Coronavirus: Ryanair could cancel up to 80% of flights
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The COVID-19 pandemic escalated very quickly this month, forcing the governments of many European countries to take drastic measures. This had a negative impact on transport and tourism. Airlines have had to cancel thousands of flights from one day to the next.
Even the airlines of RYANAIR GROUP (RYANAIR, Lauda, Buzz Air, Malta Air) suffered. It is an unprecedented situation in the modern era.
In the last 7 days, Italy, Malta, Hungary, Czech Republic, Slovakia, Austria, Greece, Morocco, Spain, Portugal, Denmark, Poland, Norway and Cyprus have imposed flight bans of varying degrees. Some countries have canceled all flights to / from the country. Other countries have banned flights to / from countries at high risk for Covid-19 infection.
Ryanair could cancel up to 80% of flights
Over the weekend, for example, Poland and Norway banned all international flights, while in other countries (without travel bans) there was a drastic reduction in ATC (Air traffic control) and essential services for the airport.
Due to these restrictions, Ryanair expects almost the entire fleet to be detained on the ground in Europe in the next 7-10 days. There are also countries where the RYANAIR fleet will not be detained on the ground, but there are restrictions on social spacing. And these restrictions can make flights impossible to operate.
And the future is bleak for RYANAIR. For May and April, officials of Europe's largest low-cost carrier expect to reduce operational program by up to 80% from normal period. But it is excluded that the entire fleet remains on the ground.
Ryanair takes immediate action to reduce operating expenses and improve cash flows. This will involve the landing of surplus aircraft, blocking recruitment. At the same time it will ask the employees to enter the leave (volunteers). As of March 12, RYANAIR had over 4 billion euros in cash.
At this time, the impact and duration of the COVID-19 pandemic are difficult to estimate.