Ryanair set to lay off 3,000 staff amid coronavirus impact

The airline warned it will slump to a £179million loss in its first quarter to June, adding that 2021 will also see a slump as the coronavirus pandemic wreaks havoc on the global aviation industry

The low-cost carrier said it is currently negotiating pay cuts, unpaid leave and redundancies with employees and trade unions, amid a sharp fall in numbers due to the widespread travel ban.

In a statement, Ryanair said: "Full-year 2021 will be difficult for the Ryanair Group as its airlines work hard to return to scheduled flying following the Covid-19 crisis.

"Consultations about base closures, pay cuts of up to 20%, unpaid leave and up to 3,000 job cuts - mainly pilots and cabin crew - are underway with our people and our unions.

"As we look beyond the next year, there will be significant opportunities for Ryanair's low-cost growth model as competitors shrink, fail or are acquired by government-bailed-out carriers."

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Ryanair has reported a 13% increase in profits to 1 billion euros (£890 million) for the year ending March but warned that it faces a "difficult" year ahead following the impact of coronavirus.

The discount airline said it saw an increase in passengers for the full year but has operated fewer than 1% of its scheduled flights since the start of April.

It also told investors that it has sufficient funds to "weather Covid-19 and emerge stronger when the crisis passes".