Irish LCC Ryanair has raised €400 million ($473 million) by issuing new shares and is on the lookout for chances to gain market share as rivals retrench or go out of business.
Continuing uncertainty around international travel restrictions designed to curb the spread of COVID-19 continues to hurt the UK economy, a report has found.
Ryanair plans to boost its operations between the UK and Portugal, following the British government’s addition of the popular vacation destination to its “travel corridors” safe list.
ULCC Ryanair has found agreement with its Spanish pilots over pay cuts and improved productivity, but has so far failed to reach similar deals with its Spanish cabin crew.
Ryanair plans to cut its flight capacity by 20% in September and October, citing waning forward bookings attributable to uncertainty over COVID-19 case rates in some EU countries.
Ryanair will increase flights to more than 60% of its normal schedule throughout August following the “successful resumption” of services at the end of June.
Ryanair said it intends to fly more than 1,600 routes this month as passenger numbers continue to grow while dismissing claims from Italy’s civil aviation authority that is it failing to follow coronavirus rules on services to the country.
Weekly scheduled airline capacity has risen to more than half of the level recorded this time in 2019—although the pace of recovery is differing from region to region.
ULCC Ryanair said it could not rule out further redundancies or pay cuts if the economic situation caused by the COVID-19 pandemic worsens this winter.
Ryanair is calling on the Republic of Ireland to withdraw its 14-day quarantine, which has triggered the Irish LCC to cut up to 1,000 Ireland-UK flights in August and September.
LONDON—Ireland-based ULCC Ryanair and cabin crew union Unite have agreed to temporary salary reductions in return for retaining jobs among the airline’s UK personnel.
Ryanair has resumed operating over 1,000 daily flights across Europe, about 40% of its normal July capacity, as it returned to flying July 1 following the COVID-19 crisis.
SALZBURG, Austria—Ryanair Group subsidiary Laudamotion has lost €300 million ($339 million) in the two years since its March 2018 launch, the group’s CEO Michael O’Leary said.
ULCC Ryanair plans a swift increase in its schedules over the summer, announced it will restore over 30 routes to and from Serbia, Slovakia and Ukraine from July 1.