'Tsunami Of Job Cuts' Creating Growing Concern

The British Airline Pilots Association has issued a ‘Mayday’ distress call for the aviation industry as Ryanair becomes the latest airline to announce potential job cuts and predictions of more to come. The announcement that 3000 jobs are on the line at Ryanair comes just days after British Airways announced it is also planning 12,000 redundancies. The pilots’ union says enforced travel restrictions as a result of coronavirus are having a devastating impact on aviation and it is an emergency the Government can no longer ignore. Before COVID-19 hit the UK aviation brought at least £22 billion to the UK economy, along with over 230,000 jobs.

"Adjusts Employment to Align With Lower Market Demand"

Spirit AeroSystems has confirmed that it will reduce employment at sites supporting commercial programs a result of lower demand for commercial airplanes. Spirit is a supplier to Airbus and Boeing, both of which announced lower production rates for commercial aircraft due to the impact of COVID-19 on the aviation industry. "Our actions follow reduced demand from our customers, who have lowered production rates as demand for new airplanes declines due to the impact of COVID-19," said Tom Gentile, President and CEO, Spirit AeroSystems. "In addition to reducing employment, we are taking other initiatives to lower costs and preserve liquidity, which included raising $1.2 billion in high yield secu