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Ryanair may cut up to 3,000 jobs to survive virus

Ryanair boss Michael O'Leary

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Ryanair has said it may shed up to 3,000 jobs as it restructures to cope with the coronavirus pandemic.

It said the posts under threat were mainly pilot and cabin crew jobs.

There were likely to be pay cuts of up to 20% for remaining staff, the airline added.

Boss Michael O’Leary, whose pay was cut by 50% for April and May, has now agreed to extend this 50% pay cut for the remainder of the financial year to March 2021.

Ryanair said it expected to report a net loss of more than €100m (£87m) for the first three months of the year, with further losses in in the second quarter.

In a sideswipe at rivals, it said its return to scheduled services would be rendered more difficult by competing with flag carrier airlines, “who will be financing below cost selling with the benefit of over €30bn in unlawful state aid, in breach of both EU state aid and competition rules”.

Ryanair said it had entered the coronavirus crisis with reserves of almost €4bn in cash and continued to “actively manage” those resources in order to survive the pandemic.

Heathrow ‘robust’

Meanwhile, London’s Heathrow airport, normally the busiest in Europe, has said it expects passenger numbers to have fallen 97% in April as demand slumped amid the coronavirus pandemic.

Numbers fell 18.8% to 14.6 million during the first three months of the year, the airport said.

But it added: “Heathrow remains open – and continues operating safely to help people get home and to secure vital supply lines for the UK.”

Financially, it was “robust”, it said.

“Heathrow has £3.2bn in liquidity, sufficient to maintain the business at least over the next 12 months, even with no passengers,” it added.

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