12 February 2009

Virgin Atlantic and Ryanair cut close to 800 jobs

Richard Branson’s Virgin Atlantic Airways and the infamous discount carrier Ryanair Holdings will cut as many as 800 jobs as the recession curbs the demand for travel.

Virgin may eliminate 600 posts across its business, the company said in a statement today. Ryanair said it will cut 200 jobs at its Dublin base, seek pay cuts from workers and remove four planes from their fleet.

Steve Ridgway, Virgin’s chief executive officer, said the airline needs to reduce headcount in order to "stay healthy" until economies revive. Ryanair counterpart Michael O’Leary blamed Ireland’s introduction of a new tourist tax from April for exacerbating the slump in demand.
 

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