Ryanair digs in for slow recovery
CEO Michael O’Leary is also slashing costs by deferring capital investments, suspending share buybacks and cutting management pay
18 May 2020 - 21:45
Dublin — Ryanair Holdings boosted its liquidity with a £600m loan backed by the UK government and said on Monday the coronavirus crisis would reduce passenger numbers by half over the next year.
Europe’s biggest low-cost carrier is tapping Britain’s Covid Corporate Financing Facility (CCFF) as it digs in for a slow recovery that’s set to see a price war across a much diminished air-travel market, it said in a statement Monday. Group operations are under review and its Austrian arm could close...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.