Michael O'Leary, Ryanair’s flamboyant boss, has scared its employees by announcing that as many as 900 jobs will be cut. The low-cost carrier will lay off 500 of its 5,500 pilots and 400 of its 9,000 cabin staff. In addition, recruitment plans for 600 cabin staff in 2020 have been put on hold. This has to do with the problems of the Boeing 737 MAX.
Profit decline
Ryanair’s post-tax profit declined by almost 30% on an annual basis. The airline blames higher fuel costs and declining fares for its falling profit. Fares are falling due to price competition in several markets. The...
Read more