Ryanair expects the majority of its fleet to be grounded within the next seven to 10 days, it warned this morning. It said that in countries where aircraft are not grounded, social distancing restrictions may make flying “to all intents and purposes, impractical, if not impossible”. Mr O’Leary said that Ryanair is “a resilient carrier group” with a very strong balance sheet and substantial cash liquidity. For April and May, Ryanair expects to reduce its seat capacity by up to 80pc and it warned that a full grounding of the fleet “cannot be ruled out”. “Ryanair is taking immediate action to reduce operating expenses, and improve cash flows,” it added.

Source: Irish Independent March 16, 2020 10:30 UTC