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...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now