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TEHRAN, August 6 -The chief executive of British low-cost carrier Ryanair has warned of job cuts in the near future.
TEHRAN, Young Journalists Club (YJC) -In a video address to workers, Michael O’Leary warned staff to prepare for job costs claiming the airline has 900 too many pilots and cabin crew.
O’Leary said that redundancies would be announced by the end of August – no exact number was put on the amount of job losses.
The reason cited was due to planned budgets cuts to flights next summer due to the grounding of its Boeing 737 Max fleet.
Ryanair has reported a 21% drop in its second quarter financial results standing at €243 million (£219 million) for the three months to the end of June.
It added the average price of a ticket had fallen 6% as the company struggled with higher fuel prices and a fare war.
The drop is due to falling profits, higher oil prices and Brexit uncertainty – the airline says.
Source: aviationnews
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