RYAAY Ryanair Holdings PLC

   By Ian Walker 
 

Ryanair Holdings PLC said Friday that it is cutting 250 office jobs due to the coronavirus-related grounding of its fleet.

The Irish airline said it has reduced headcount at its offices in Dublin, Stansted, Madrid and Wroclaw as these people won't need to return to work when the offices reopen on June 1 due to the decline in traffic.

Ryanair said the jobs will go through a combination of probation/fixed term contract ends, resignations and redundancies. The company previously said it may cut up to 3,000 mainly pilot and cabin crew jobs due to the groundings, and that it doesn't expect passenger traffic to return to pre-2019 levels until summer 2022 "at the earliest."

Ryanair Airlines have operated less than 1% of their normal flight schedules for April, May and expects the same in June, while the company said earlier this week said that only 40% of its normal schedules would operate in July.

For the full year, Ryanair expects to carry less than 100 million passengers, over 35% less than its previous target for fiscal 2021 ending next March.

"We are continuing to meet our pilot and cabin crew unions across Europe to finalize 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 said Friday.

Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

(END) Dow Jones Newswires

May 15, 2020 06:55 ET (10:55 GMT)

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