Ryanair, Europe’s largest budget airline, has announced plans to cut up to 3,000 jobs – about 15 percent of its workforce.
Ryanair accussed the European government of unfairly bailing out major competitors.
Chief Executive Officer of Ryanair, Michael O’Leary in a statement said “We regret these job cuts. We regret these pay cuts, but they’re what the well-run airlines like Ryanair and others will have to do just to survive and compete against the likes of Lufthansa and Air France receiving tens of billions of state aid from their national governments”
Three days ago, British Airways’ parent company IAG said in a statement that the airliner may cut up to 12,000 of employees and a quarter of pilots.
Britain’s manufacturing sector saw a record slump in April amid the COVID-19 crisis as output, new orders and employment all contracted at the fastest rates in nearly 30 years.
Data published by IHS MARKIT/CIPS, stated further that the purchasing managers’ index for the manufacturing sector dropped to 32.6 in April, down from 47.8 in March, as the outbreak of novel coronavirus hit the country’s manufacturing sector and its supply chains.