Tag Archives: Ryanair

Ryanair and its Irish pilots agree on pay cuts to save Irish pilot jobs

Ryanair welcomed acceptance by 100% of its Irish Pilots of a 4-year agreement which includes a 20% pay reduction, restored over 4 years, along with productivity improvements on rosters, flexible working patterns and annual leave to minimize Irish Pilot job losses. This agreement gives Ryanair a framework to flex its operation during the COVID-19 crisis and a pathway to recovery when the business returns to normal in the years ahead.

Earlier this week BALPA and Ryanair UK pilots accepted a similar deal to save jobs also with 20% pay cuts and productivity improvements.

Ryanair has also signed agreements with the Fórsa union for our Irish based cabin crew and the UNITE union for our UK cabin crew on up to 10% pay reductions, fully restored over 4 years as well as productivity improvements to save jobs. These cabin crew agreements are currently out to ballot.

These agreements demonstrate that Ryanair Pilots wish to work with the airline during the Covid-19 crisis where Ryanair will carry 50% less traffic, at significantly lower fares for the foreseeable future.

 

Ryanair’s CEO Eddie Wilson said:

“We welcome this week’s results in both Ireland and the UK of acceptance of a 4-year agreement on 20% pay cuts and productivity improvements on rosters and flexible working patterns to save the maximum number of Irish and UK Pilot jobs. The strength of this acceptance demonstrates the commitment from our pilots in Ireland and the UK to work with Ryanair as we work our way through this crisis over the next number of years”.

Ryanair June traffic falls 97% to 0.4 million guests, BALPA agrees to pay cuts to save pilot jobs

Ryanair Holdings plc released its June traffic statistics as follows:

   2019 2020  Growth
Ryanair Group  14.2m 0.4m -97%
Ryanair  13.6m 0.4m -97%
Lauda  0.6m 0.0m  -100%

                                                                                  

Rolling Annual 144.3m 107.2m    (95%) -27%

 

Ryanair operated just over 2,800 scheduled flights (79,600 budget) in June. Of these 95% of flights arrived on-time.

In other news, Ryanair welcomed BALPA’s acceptance for UK Pilots of a 4-year agreement, which includes a 20% pay reduction restored over 4 years, along with productivity improvements on rosters, flexible working patterns and annual leave to minimize UK Pilot job losses. This agreement gives Ryanair a framework to flex its operation during the Covid-19 crisis and a pathway to recovery when the business returns to normal in the years ahead.

Ryanair welcomes this week’s confirmation that the BALPA agreement was overwhelmingly accepted by 96% of Ryanair’s UK Pilots on a turnout of 90% which demonstrates that Ryanair Pilots are willing to work with the company during the Covid-19 crisis where Ryanair will carry 50% less traffic, at significantly lower fares for the foreseeable future.

Ryanair’s CEO Eddie Wilson said:

 “We welcome this week’s result that 96% of BALPA members have voted in favour of a 4-year agreement on 20% pay cuts and productivity improvements on rosters and flexible working patterns to save the maximum number of UK Pilot jobs.

 

The strength of this vote demonstrates the commitment from our pilots in the UK to work with Ryanair as we work our way through this crisis over the next number of years”.

Ryanair reminds passengers of new health measures as it prepares to increase flights starting today

Ryanair called on its customers to follow a new set of simple guidelines that will help to protect the health of passengers and crew as it resumes 1,000 daily flights from July 1, 2020. These measures include new compulsory rules to help to prevent any spread of COVID-19, as well as recommendations for passengers to limit interactions, and improved health & cleaning procedures on the aircraft:

  • Mandatory Masks – customers to wear face masks/coverings at all times in the terminal and on board the aircraft; Ryanair crew to wear face masks for the whole duration of the flight, including boarding and landing.
  • Temperature Checks – on all persons entering airport (prior to check-in/ security screening), customers also urged to check their temperature prior to departing home.
  • Hand hygiene – customers & crew encouraged to regularly hand wash and use hand sanitizers throughout airport terminals before boarding.
  • Pre-Airport Check-In & Boarding Pass – customers encouraged to check-in online and download boarding passes via the Ryanair app.
  • Self-Service – bag drops limited to self-service in all airports where service is available. Customers also to self-scan their boarding passes when boarding.
  • Limited Baggage – customers urged to minimise baggage – preferably to 2 carry-on bags only.
  • Fast Track & Priority Boarding – use of the fast track service to reduce queuing times at airport security and Priority Boarding to reduce interaction.
  • No queuing – during boarding no customers will be allowed to dwell in boarding stairwells or air bridges; queuing will not be allowed on board at toilets.
  • Cashless Payments – card payments only for all inflight purchases and airport fees/charges.
  • Limited Trolley Service – a limited inflight Getaway Cafe service will operate offering pre-packaged snacks and drinks; Ryanair’s Runway Retail inflight magazine will be only available on the Ryanair app.
  • Aircraft Sanitization – all aircraft disinfected daily with hospital grade disinfectant chemicals that are effective for over 24 hours.
  • HEPA filters – fleet fitted with state of the art filtering system, which removes airborne particles and recycles air flow every 3-4 minutes.

 

Ryanair’s Eddie Wilson said:

“We are delighted to be back flying from July 1, and we encourage our guests and our people to follow Ryanair’s new ‘Healthy Flying’ measures to prevent the spread of COVID-19 and protect them across their whole journey.

All the aircraft are fitted with state of the art filters – which remove any airborne particles while you travel –  and every aircraft is disinfected daily with chemicals that are effective for over 24 hours. With temperature checks, face masks, cashless flights and self-service where possible, our customers can rest assured that we are doing everything we can to reduce human interaction and protect their health when flying Ryanair.

We will now require our guests to follow a set of simple guidelines to help prevent the spread of COVID-19. At Ryanair we are doing everything we can to return to flying so we can reunite friends and family, allow people to return to work, and begin to restart Europe’s tourism industry, upon which millions of jobs, especially for young people, now depend.  We thank our customers in advance for flying Ryanair and for complying with these additional public health measures which are promote the welfare of our guests and our people.”

 

Ryanair calls on the EU to block €3.4 billion illegal state aid to KLM

Ryanair has called on the EU Commission to block the latest illegal State Aid of €3.4 billion to Dutch flag carrier KLM, which equates to a subsidy of €200 on behalf of every man, woman and child of Holland. The Dutch Government are great at preaching fiscal conservatism to other EU countries but when it comes to bailing out flag carrier airlines they write subsidy checks even faster than Mrs Merkel.

Ryanair Group CEO Michael O’Leary said:

“16 years after Air France’s takeover of KLM, every Dutch citizen now has to pay €200 each to prop-up Air France-KLM, while each French citizen will only pay a subsidy €100. This is a poor deal for the “trading nation”, which likes to lecture other EU countries about fiscal rules but has no problem breaking these rules when it comes to subsidising KLM. This Dutch government subsidy is also bad news for competition and consumer interests as it will further delay the necessary reforms at the bloated Air France-KLM.  For this €200 KLM subsidy, every Dutch man, woman and child could buy 5 flights with Ryanair, instead of paying for the failure and inefficiency at Air France-KLM.  

We call on the European Commission to block this subsidy doping to KLM, which will further reduce competition and consumer choice in the Dutch and French markets”.

Ryanair opens 64 routes from Vienna on July 1, 2020

Ryanair has announced it will open 67 routes to/from Austria commencing on Wednesday, July 1, 2020, as part of Ryanair’s post COVID-19 Summer 2020 schedule.

Its Vienna base will offer 64 routes, including summer services to Palma de Mallorca, Rome, Faro and Athens, and many more.

As Austrians taxes get wasted on illegal State Aid to German owned Austrian Airlines, Ryanair will guarantee low fares for Austrian customers/visitors at prices which start from €9.99 one way. Vienna holiday makers can now plan an exciting summer getaway with fares starting from just €9.99 for travel in July and August before some misguided Austrian Minister tries to ban them.

Following the reopening of Lauda’s Vienna A320 base on July 1, Ryanair will operate to/from Vienna with a mixture of Boeing and Airbus aircraft. Since Lauda will become a wet lease provider for the Ryanair Group, the famous red brand will continue to fly over the skies of Austria from July 1, 2020.

Ryanair’s Austria 2020 schedule will deliver:

64 Vienna routes including;

  • Over 25 summer destination including Faro, Malaga, Malta, Naples & Palma.
  • Over 20 city break destinations including Dublin, Milan, Madrid, Lisbon & Warsaw.
  • Ryanair will also operate 2 routes to/from Salzburg and 1 route to/from Klagenfurt.

Ryanair Group CEO, Michael O’Leary, said:

Ryanair is pleased to open 67 new routes to/from Austria starting from 1 July, as part of our Summer 2020 schedule. Our Vienna base will serve 64 routes, with air fares starting from just €9.99 one way before some crazy Austrian Minister tries to force Austrian consumers and visitors to pay higher €40 air fares!!! Ryanair will provide non-State Subsidised competition and choice to the high fare Austrian Airlines (which is a subsidiary of the German subsidy junkie Lufthansa Group). Ryanair will oppose any illegal effort by the Austrian Govt to force consumers to pay high fares. Austrian citizens are entitled to low fares and nobody provides lower fares than Ryanair.

To celebrate our Summer 2020 schedules we have launched a seat sale with fares from just €9.99 one way, for travel in July and August 2020, which must be booked by midnight Saturday (27th June). To avoid missing out on these amazing low prices, customers should log onto http://www.ryanair.com and book their flight with us today!”.

Lauda aircraft photo gallery:

Ryanair to challenge Lufthansa bailout

Ryanair made this announcement:

Reacting to the European Commission’s approval on June 25, 2020 of the German Government’s €9 billion bailout of Lufthansa, Ryanair’s Michael O’Leary said:

“This is a spectacular case of a rich EU Member State ignoring the EU Treaties to the benefit of its national industry and the detriment of poorer countries. Under the pretext of COVID-19, the German Government is giving Lufthansa a bank-breaking bailout of €9 billion which even the airline’s own CEO admits it does not need.

In clear breach of European competition rules, Berlin is wasting vast amounts of taxpayers’ money to prop up an uncompetitive airline that should be putting its own house in order instead of once again running to the Government for help.  This and other bailouts will have a more devastating long-term effect on the future of European aviation than the pandemic itself.

This bailout money will be used to bully smaller rivals out of the market, in line with Lufthansa’s grim record of anti-competitive behavior. Only last week, Italian press reported that Lufthansa’s Air Dolomiti was “teaming up against low-cost” with three other airlines, to introduce minimum prices. This follows reports that Austrian Airlines, also owned by Lufthansa, is gearing up to set a minimum airfare of €40.

In addition to coordinating a State-sponsored price-setting cartel, Lufthansa is threatening to shut down smaller national airlines within the Lufthansa group, as if they were its Belgian, Austrian and Swiss hostages, unless the respective governments pay a ransom.

The contrast between Lufthansa and Ryanair could not be starker.  Instead of touring Europe’s capitals for taxpayer-funded hand-outs, Ryanair is innovating its way out of the crisis by giving consumers lower fares and connectivity at a time when Europe’s regions and cities desperately need the revival of tourism and their local economies.

We urge the European Commission to stand by its principles and keep the skies open, fair and competitive. If not, the single aviation market the EU has successfully built will crumble, with European consumers and taxpayers paying the price. The Commission’s approval of the Lufthansa bailout today is a betrayal of the core principles of EU law, which we have no alternative but to refer to the EU General Court.”

Ryanair condemns €9 billion state aid to Lufthansa

Ryanair today (Tuesday, May 26, 2020) condemned the German Government’s decision to award €9 billion of State Aid to Lufthansa on top of the extensive payroll support already given to the German airline, which will further strengthen Lufthansa’s monopoly like grip on the German air travel market.

The German and French Governments continue to provide enormous State Aid to their companies, many of whom do not need it, which distorts competition with other providers across Europe. Non-State Aided airlines like Ryanair, EasyJet, BA and others, will now have to compete with Lufthansa in both the short haul and long haul markets without equivalent State Aid, whereas Lufthansa can use this latest €9bn subsidy from the German Govt to engage in below cost selling on its short haul intra-EU routes and its long haul routes.

Copyright Photo: Rainer Bexten.

Ryanair’s Group CEO Michael O’Leary said:

“Lufthansa is addicted to State Aid. Whenever there is a crisis, Lufthansa’s first reflex is to put its hand in the German Government’s pocket. While most other EU airlines can survive on just payroll support schemes (for which we are extremely grateful), Lufthansa claims it needs another €9bn from the German Govt, €1bn from the Swiss Govt, €800m from the Austrian Govt, and €500m from the Belgian Govt as it stumbles around Europe sucking up as much State Aid as it can possibly gather.

How can airlines like Ryanair, EasyJet and Laudamotion be expected to compete with Lufthansa in the short haul market to and from Germany, now that it has €9bn worth of German Govt subsidies to allow it to engage in below cost selling or buy up even more competition for the next number of years.

It is deeply ironic that the German Govt, which lectures all other EU countries about respecting EU rules, has no difficulty breaking the State Aid rules when it comes to Lufthansa. It waved through Lufthansa’s purchase of Air Berlin 2 years ago, which gave Lufthansa a monopoly in the German domestic market, and now when Lufthansa claims it needs even more State subsidies, the German Government writes a cheque for €9bn, at a time when its competitors Ryanair, EasyJet, BA, among others, do not need such State subsidies to survive.

The German Govt continues to ignore EU rules when it suits them to subsidise large German companies, but then lectures every other EU Govt about respecting the rules when they ignore them.

Ryanair will appeal against this latest example of illegal State Aid to Lufthansa, which will massively distort competition and level playing field into provision of flights to and from Germany for the next 5 years.”

Ryanair aircraft photo gallery:

Ryanair welcomes EU guidelines for return to healthy flying

Ryanair has made this announcement:

Ryanair welcomed new EU guidelines to ensure that Europe’s citizens can return to flying within the European Union in the coming weeks in a manner that best protects their health and the health of airline crew. These effective guidelines now allow Europe’s tourism industry to restart in July and August.

Ryanair especially welcomes the advice on face masks, which reflects Ryanair’s own health protocols as it returns to widespread flying on July 1, 2020. Ryanair again calls on the Irish and UK Government to drop their unimplementable and ineffective 14 day quarantine measures, which are now being scrapped in most other European countries in favor of face masks and social distancing.

Ryanair’s Group CEO Michael O’Leary said:

“14 day quarantines are ineffective and unimplementable. Requiring international arrivals to quarantine only after they have used multiple public transport providers to get from the airport to their ultimate destination has no basis in science or medicine. We strongly urge Europe’s Governments, especially those in Ireland and the UK, to mandate to the wearing of face masks for airline, train and (London) underground passengers, as this is the best and most effective way to limit the spread of Covid-19 in public transport environments where social distancing is not possible.

We welcome the European Union’s recommendation on face masks, and call again on the Irish and UK Government to abandon their unexplainable, ineffective, and unimplementable quarantine restrictions. Europe’s citizens can travel safely on their summer holidays wearing face masks and observing temperature protocols, but 14 day quarantines have no scientific basis, are unimplementable and unnecessary in circumstances where airline, train and underground passengers wear face masks where social distancing isn’t possible.”

Ryanair full year profits up 13% to €1 billion for the full fiscal year, will Lauda survive?

Ryanair Holdings plc today (May 18) reported a full year profit of €1,002m (exclusive hedge ineffectiveness), compared to €885m last year. Highlights include:

  • Traffic grew 4% to 149m guests.
  • Revenue per guest rose 6% to €57 (2% higher fares & ancillary rev. up 16%).
  • Over 90% of flights arrived on-time (excl. ATC delays).
  • EU’s greenest, cleanest airline (66g CO₂ pax/km).
  • 5 new bases & 390 new routes.
  • Malta Air became 4th Group airline.
  • New digital platform launched with improved, personalised, guest offers.
  • Strong balance sheet & liquidity.

Copyright Photo: Rainer Besten. Ryanair Boeing 737-800s stored at Hahn, Germany.

FY20 (IFRS) – Group* 31 Mar. 2019 31 Mar. 2020 Change
Guests 143.1m 148.6m +4%
Load Factor 96% 95% -1pt
Revenue €7.69bn €8.49bn +10%
PAT €885m €1,002m +13%
Gross cash €3,195m €3,808m +19%

*excl. €353m except. hedge ineffectiveness charge

 

 

COVID-19 UPDATE:

Unlawful State Aid – to date
Lufthansa Group €12.4bn plus
AF-KLM Group €10.1bn plus
Alitalia € 3.5bn plus
TUI Group € 1.8bn plus
SAS € 0.8bn plus
Finnair € 0.7bn plus
Norwegian € 0.3bn plus

 

Most of Ryanair’s fleet was grounded from mid-March by EU Government flight bans and restrictions.  These groundings reduced our March and full year traffic by over 5m guests and cut FY20 profits by over €40m.  As updated on 1 May, Ryanair expects to operate less than 1% of its scheduled flying programme in Q1 (Apr. to June).  Some return to flight services is expected in Q2 (July-Sept.) and Ryanair expects to carry no more than 50% of its original Q2 traffic target of 44.6m, as bookings will be impacted by public health restrictions (temperature checks and face coverings for passengers and staff) and quarantine requirements.  When Group airlines return to scheduled flying from July, the competitive landscape in Europe will be distorted by unprecedented quantums of State Aid (in breach of EU rules) under which over €30bn has been gifted to the Lufthansa Group, Air France-KLM, Alitalia, SAS and Norwegian among others.  We therefore expect that traffic on reduced flight schedules will be subject to significant price discounting, and below cost selling, from these flag carriers with huge State Aid war chests.

 

BUSINESS REVIEW (FY20):

Revenues

Sales grew 10% to €8.5bn.  Scheduled Revenue, driven by 4% traffic growth to 149m and 2% higher fares, increased by 6% to €5.6bn. Covid-19 flight restrictions and aircraft groundings in the 2nd half of March reduced traffic by over 5m in Q4. Ancillary Revenue rose by 20% to €2.9bn as more guests choose Priority Boarding and Preferred Seat services. In Oct., Ryanair Labs launched a new digital platform with improved, personalised, guest offers. This bedded down well in Q4, prior to Covid-19 groundings, with Labs focusing on improved penetration across core ancillary products.

Costs

Our fuel bill rose 14% (+€335m) to €2.8bn due to higher prices and 4% traffic growth. Ex-fuel unit costs were adversely impacted by a 48% drop in March traffic (-5.2m guests) due to Covid-19 groundings and, as a result, rose by 4% (ahead of the +2% guided).  Higher staff costs (increased pilot pay & higher crew ratios as pilot resignations slowed to zero) and maintenance costs (older aircraft longer in the fleet due to the Boeing MAX delivery delays) were offset by falling EU261 costs (due to better on-time-performance) and lower route charges. The Group has recorded an exceptional €353m (net of tax) hedge ineffectiveness charge on FY21 fuel hedges (due to Covid-19 groundings), offset by favourable €/$ currency hedges for fuel & delayed capex.

Group Airlines

During FY20, the Ryanair Group continued to evolve. Buzz increased its fleet to 45 Boeing 737-800s and expanded outside Poland with new bases in Prague and Budapest.

Lauda underperformed in FY20 with fares lower than expected, due to intense price competition from Lufthansa subsidiaries in its core Austrian and German markets. FY20 traffic, however, grew to 6.4m at high load factors.  In April, David O’Brien (former Ryanair CCO) joined the Lauda management team as Joint CEO.

 

Due to Covid-19 restrictions, the Lauda fleet has been grounded since March 17.  With costs running ahead of other Group airlines and Lauda’s main competitor, Austrian Airlines, expected to receive an €800m State Aid bailout, Lauda has had to completely rethink its strategy and significantly lower its growth plans.  Its management team are implementing restructuring and cost cutting plans and are currently in discussions with its people and its unions in relation to staff savings to secure the future of its Vienna A320 base.  Failure to agree meaningful cost reductions on May 20 will result in the Vienna A320 base being closed on May 30 with over 300 job losses.  Lauda has already abandoned plans to operate a base in Zadar for the Ryanair Group.

Malta Air, which became the 4th Group airline last summer, grew strongly in FY20.  With a fleet of almost 120 aircraft, it has taken over the Group’s French, German, Italian and Maltese bases.  Like Buzz, Lauda and Ryanair DAC, it is also reviewing all areas of its cost base so that it remains competitive in its core markets where it will compete against government bailed out legacy carriers.

Ryanair DAC performed well in FY20 and opened new markets in Armenia, Georgia and Lebanon.  Its fleet, however, has dropped to 275 Boeing 737-800s as both Buzz and Malta Air took over flight operations for the Group.  Punctuality improved to over 90% (excl. ATC delays) thanks to Ryanair’s investment in new handling arrangements in Stansted, Poland and Spain.  In Sept., Eddie Wilson was appointed as Ryanair DAC’s CEO.

Boeing MAX update

It is over a year since the Group was due to take delivery of its first Boeing 737 MAX 200 aircraft.  Boeing are currently guiding a late summer return to service in the US for the Boeing 737 MAXWe believe it will be at least October before we receive our first MAX 200 aircraft. We remain fans of, and committed to, these “gamechanger” aircraft with 4% more seats & 16% lower fuel burn, which will transform Ryanair’s cost base for the next decade. We are currently reviewing short-term growth plans and are in active negotiations with both Boeing and Lauda’s A320 lessors to reduce planned deliveries over the next 24 months to reflect slower traffic growth post Covid-19 in 2020 & 2021.

Balance Sheet & Liquidity

Ryanair’s balance sheet is one of the strongest in the industry with a current cash balance of €4.1bn (Ryanair recently raised £600m under the UK’s CCFF) and 330 unencumbered Boeing 737s (77% of owned fleet). Since mid-March, the Group has implemented a series of measures to preserve cash, cut costs, cancel share buybacks and defer operating and non-essential capex spending.  As a result, average weekly cash burn has dropped from approx. €200m in March to just over €60m in May.  This liquidity will enable the Group to weather Covid-19 and emerge stronger when the crisis passes. Our focus will remain on cash preservation/generation and the repayment of maturing debt over the next 24 months.

 

ESG UPDATE:

Europe’s Greenest, Cleanest Airline

The future of our planet is of vital importance to our customers and all our people. Ryanair has the lowest carbon emissions of any major EU airline at just 66 grams of CO₂ per passenger km. Passengers switching to Ryanair can halve their CO₂ emissions compared to other major EU airlines. Ryanair operates the youngest fleet, with the highest load factors, and newer more fuel-efficient engines.  During FY20, Ryanair launched a new Environmental Policy and appointed a director of sustainability to oversee its implementation.

Senior Board Changes

On June 1 Stan McCarty will succeed David Bonderman as Chairman of the Board and Louise Phelan will replace Kyran McLaughlin as Senior Independent Director.  Both David and Kyran will step down from the Board on May 31 and we thank them both for their long service and wise counsel. Ryanair’s new Chairman plans to refresh various Board Committees before the Sept. AGM.

OUTLOOK:

FY21 will be difficult for the Ryanair Group as its airlines work hard to return to scheduled flying following the Covid-19 crisisUnlike many flag carrier competitors, Ryanair will not request or receive State Aid. Consultations about base closures, pay cuts of up to 20%, unpaid leave and up to 3,000 job cuts (mainly pilots and cabin crew) are under way with our people and our unions.  Our Commercial team are also in active discussions with our airport partners regarding S.20, and beyond, capacity allocations. Given the uncertainty over the impact and duration of the Covid-19 pandemic, coupled with no visibility on what customer behaviour and demand will be following a return to service, Ryanair cannot provide FY21 PAT guidance at this time.  The Group expects to record a loss of over €200m in Q1, with a smaller loss expected in Q2 (peak summer) due to a substantial decline in traffic and pricing from Covid-19 groundings.  The Group currently expects to carry less than 80m passengers in FY21 (almost 50% below its original 154m target).  Ryanair’s return to scheduled flying will be rendered significantly 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.

As we look beyond the next year, there will be significant opportunities for Ryanair’s low cost, growth model as competitors shrink, fail or are acquired by government bailed out carriers.

Ryanair aircraft photo gallery:

Ryanair announces over 250 jobs lost at its Dublin, London Stansted, Madrid and Wroclaw offices due to COVID-19 groundings

Ryanair confirmed it has reduced its office head count in Dublin, London Stansted, Madrid and Wroclaw by over 250 through a combination of probation/fixed term contract ends, resignations and redundancies, as these people will not be required to return to work on June 1, 2020, when the Ryanair offices reopen, due to the substantial decline in traffic the Ryanair Group Airlines is facing in 2020.

Ryanair Airlines have operated less than 1% of their normal flight schedules during April, May and June, and this week announced that only 40% of its normal schedules would operate in July 2020. For the full year, Ryanair now expects to carry less than 100 million passengers, over 35% lower than the 155 million + target for the year ended March 2021.

Ryanair’s People Director Darrell Hughes said:

“This is a very painful time for Ryanair, our crews and our people supporting operations from our Dublin, Stansted, Madrid and Wroclaw offices. While we expect to re-open our offices from 1 June next, we will not require the same number of support team members in a year when we will carry less than 100m passengers, against an original budget of 155m.

Regrettably, we will now have a small number of compulsory redundancies in Dublin, Stansted, Madrid and Wroclaw to right size our support teams for a year when we will carry less than 100m passengers due to the Covid-19 crisis. These job losses were communicated to individual team members this week, and they will not be returning to work in our Dublin, Stansted, Madrid or Wroclaw offices when they reopen on 1 June next.

We are continuing to meet our pilot and cabin crew unions across Europe to finalise up to 3,000 job cuts and 20% pay cuts as we return to approx. 40% of our normal flight schedules from July onwards. Ryanair is also facing intense price competition across Europe as we are forced to compete with flag carrier airlines who have received over €30bn in unlawful State Aid subsidies from their Governments, and who will be able to engage in below low cost selling for many years with the benefit of this illegal State Aid.

Further announcements on Ryanair crew job losses and pay cuts are expected before the end of May in the light of further and on-going flight restrictions”.

Below Copyright Photo: Rainer Bexten. Ryanair aircraft (and others) in storage at Hahn, near Frankfurt.