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
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...