Ryanair is reportedly poised to cut 3,000 jobs with Chief Executive Michael O’Leary also set to take a 50% pay cut as airline says recovery could take two years.
Ryanair is also said to be notifying trade unions of ‘restructuring plans’ that could mean cutting up to 3,000 jobs. Both pilots and cabin crew would be affected.
Chief Executive Michael O’Leary, whose pay was cut by 50% for April and May, has agreed to extend the reduction for the remainder of the financial year to March 2021.
The airline is also reportedly set to challenge billions of euro in State aid that’s being allocated to rival European carriers.
The low-cost carrier claims that the funds will distort the competitive landscape. Airlines currently benefiting from State aid include Lufthansa, Air France-KLM, Alitalia and SAS.
Balpa said that it had received no warning or consultation about the 3,000 potential job losses.
