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Ryanair Cuts 3,000 Jobs, Challenges $33 Billion in State Aid

  • State help ‘hugely’ distorts level playing field: CEO O’Leary
  • Iberia, Vueling get $1.1 billion Spanish state-backed loans
Bloomberg business news
WATCH: CEO Michael O’Leary discusses Ryanair’s plan to cut 3,000 jobs amid the coronavirus pandemic.(Source: Bloomberg)
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Ryanair Holdings Plc will cut 3,000 jobs and said it will challenge some 30 billion euros ($33 billion) in state aid being doled out to keep its European competitors afloat during the coronavirus pandemic.

The Irish discount carrier on Friday added to a mounting employment toll that includes 12,000 cuts at British Airways and 5,000 at SAS AB. The reductions represent about 15% of Ryanair’s workforce, and would include pilots and cabin crew.