Ryanair priority to reserve cash flow to operate for up to ’12 months, with no flights’: Michael O’Leary

    Ryanair CEO Michael O’Leary reported: “The priority here for us as a company is how do we preserve as much cash so that if we have to operate for three, six, nine, maybe even 12 months, with no flights and no revenues how do we survive that, do we have the cash to survive that and we believe we do” (Financial Times/Reuters, 21-Mar-2020). Mr O’Leary said he and his employees will undergo a 50% pay reduction and the company is operating on a best case scenario of two to three months of grounded services, however “honestly none of us have any idea”.