Irish independent reports-
https://m.independent.ie/business/jo...-39213501.html
“There’s a dialogue going on with the unions,” said Mr O’Leary. “What we’ve said is that we will need up to 20pc pay cuts. It’s 20pc for higher paid people like the captains. It is down at around 10pc for the lesser paid cabin crew. It’s variable. But if we don’t get those pay cuts, we will be back for considerably more than 3,000 job losses at the end of June.
“We’re not messing,” he added. “Everybody knows there’s an existential crisis going on in the industry.”
Mr O’Leary said Ryanair intends to try to restore the pay cuts within a three or four-year period as the industry recovers.
PS FROM WIKIPEDIA-
Existential crises are moments when individuals question whether their lives have meaning, purpose, or value.[1] It may be commonly, but not necessarily, tied to depression or inevitably negative speculations on purpose in life (e.g., "if one day I will be forgotten, what is the point of all of my work?"). This issue of the meaning and purpose of human existence is a major focus of the philosophical tradition of existentialism.