Ryanair is planning to cut 3,000 jobs and reduce staff pay by up to a fifth in response to the Covid-19 crisis, which has grounded its fleet.
The LCC said it was cutting 15% of its 20,000-strong workforce as it did not expect passenger numbers or pricing to return to pre-coronavirus levels until summer 2022 at the earliest.
As part of a programme of sweeping cost cuts, Ryanair said it could close a number of bases across Europe until air travel recovers.
The chief executive, Michael O’Leary, took a 50% pay cut for April and May and has now extended this until the end of March next year.
He told the BBC: “If a vaccine isn’t found then clearly, we may have to announce more cuts and deeper cuts into the future.”
The job cuts will affect mostly pilots and cabin crew, although the measures will also hit head office and back office teams.