Ryanair subsidiary Laudamotion has issued an ultimatum to its trade union Vida to sign the new collective labor agreement (CLA) within 24 hours, but talks could fail.
ULCC Ryanair on May 18 foreshadowed a fare war in Europe as it pledged to further undercut any below-cost fares offered by legacy carriers that have benefited from what it described as illegal financial aid from their respective governments.
Ryanair Group’s Austrian subsidiary Lauda faces an “existential crisis” with its main base in Vienna expected to close before the end of the month, group CEO Michael O’Leary has warned.
The continuing economic effects of the pandemic has led to ULCC Ryanair announcing more than 250 job losses in its head office in Dublin, together with its locations at London Stansted, Madrid and Wroclaw, Poland.
ULCC Ryanair plans a swift increase in its schedules over the summer with 40% of its usual flights set to operate from July 1, the carrier said May 12.
More European airlines have outlined how they intend to rebuild their networks over the coming weeks after the mass fleet groundings in response to the COVID-19 pandemic.
Ryanair Holdings is expecting a net loss of over €100 million ($110 million) for its fiscal first quarter (Q1), with further losses during the peak summer season—a direct effect of the precipitous decline in traffic caused by the COVID-19 pandemic.
Ryanair Group CEO Michael O’Leary expects the airline industry will recover from the COVID-19 pandemic faster than most executives and commentators believe—but only via a vicious price war.
Ireland-based ULCC Ryanair has warned that it cannot rule out “extended layoffs and/or job losses” after May 31, given the continuing uncertainty on when airline operations will resume once the COVID-19 pandemic ebbs.
The parent company of Irish budget carrier Ryanair anticipates its fiscal 2020 profit figure will come in towards the low end of its previous guidance range.
UK LCC easyJet has grounded its entire fleet in response to the COVID-19 pandemic, while Irish LCC Ryanair continues to operate just 10% of its aircraft.
Ryanair does not expect to operate any flights through April or May while fellow European ULCCs Wizz Air and easyJet have grounded the majority of their fleet.
Ryanair expects “the majority” of its fleet will be grounded while Finnair and SAS are among the latest airlines to stop almost all flights. Air France is also grounding its entire Airbus A380 fleet and KLM its entire Boeing 747 fleet.
Air France-KLM, EasyJet, International Airlines Group and Ryanair all said they will cut most of their flights in the coming days as travel restrictions push demand for air transport close to zero.
Alitalia and Ryanair are cutting more flights to and from Milan airports after Italy’s government implemented strict new quarantine measures on Mar. 8 in a bid to contain the COVID-19 coronavirus outbreak.
