Ryanair is cutting up to 3,000 jobs and says it’ll take at least 2 years to recover from the pandemic

Budget airline Ryanair has announced plans to cut up to 3,000 jobs as it tries to trim costs to deal with the fallout from the coronavirus pandemic.

In a market update released on Friday, the company said it expects to operate less than 1% of its scheduled flights this quarter.

“Ryanair now expects the recovery of passenger demand and pricing (to 2019 levels) will take at least 2 years, until summer 2022 at the earliest,” it said.

The airline said it will shortly notify trade unions about a restructuring and job loss program to begin in July.

“These plans will be subject to consultation but will affect all Ryanair Airlines, and may result in the loss of up to 3,000 mainly pilot and cabin crew jobs, unpaid leave, and pay cuts of up to 20%, and the closure of a number of aircraft bases across Europe until traffic recovers,” it said.

Ryanair argued it was disadvantaged by state aid packages that favored national carriers.

The company said this will allow some airlines to offer significantly lower prices — including below cost selling in some cases

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