Ryanair to lay off 900 employees over high fuel costs, fierce competition, higher pilot wages and Boeing 737 MAX grounding

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In the coming weeks, Irish low-cost airline Ryanair will lay off 900 employees, Ryanair CEO Michael O’Leary announced this news in an internal video conference.

In the video, O’Leary explained that the financial results of the airline are under extreme stress: high fuel costs, fierce competition on the European market, the higher pilot wages and the worldwide grounding of the Boeing 737 MAX of which Ryanair ordered 135 aircraft of the MAX 200 “Gamechanger” type. The aircraft has already been grounded since 140 days.

Currently, 500 pilots and 400 cabin crew are made redundant,” O’Leary said, “we will, however, limit the amount of forced redundancies.”

End of August, the low-cost airline will decide upon which bases to close and then the first lay-offs will be announced. Further announcements will be made in September, October and December.

Today, it was also announced that O’Leary signed a new 5-year contract as Ryanair CEO. His salary, however, is halved to €500,000 per year. His annual bonus will never exceed €500,000.

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