Coronavirus: Ryanair boss and staff to take 50% pay cut as flights grounded - News Summed Up

Coronavirus: Ryanair boss and staff to take 50% pay cut as flights grounded


Speaking to the Financial Times, O'Leary said even in the best case there would be two to three months where flights would be grounded thanks to the global outbreak. “Airlines and airports are going to have no customers and no revenues for the next two or three months," O'Leary said. "What we’re clearly trying to avoid — if at all possible because we have to preserve cash — we want to avoid mass lay-offs but the only way we can avoid mass lay-offs in our industry . “If we follow the same pattern as the Chinese then I think certainly from our perspective . we’re talking about a close down that will last for at least three months,” O'Leary said.


Source: Daily Mirror March 20, 2020 13:45 UTC



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