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Ryanair Plans To Restore 40% Of Flights From July 1; Stock Up

Shares of Ryanair Holdings plc (RYAAY,RYA.L) were gaining around 3 percent in the morning trading in London after the low fares airline announced Tuesday plans to return to 40 percent of normal flight schedules from July 1.

The decision will be subject to Government restrictions on intra-EU flights being lifted, and effective public health measures being put in place at airports.

Ryanair will operate a daily flight schedule of almost 1,000 flights, restoring 90% of its pre-Covid-19 route network. The company, since the Covid-19 flight restrictions in mid-March, has been operating a skeleton daily schedule of 30 flights between Ireland, the UK and Europe.

From July, Ryanair will restart flying from most of its 80 bases across Europe. There will be fewer daily/weekly frequencies on trunk routes, the company noted.

Further, Ryanair cabin crew will wear face masks/coverings and a limited inflight service will be offered of pre-packaged snacks and drinks, but no cash sales. All onboard transactions will be cashless.

Ryanair's CEO Eddie Wilson said, "Governments around Europe have implemented a 4 month lockdown to limit the spread of the Covid-19 virus. After 4 months, it is time to get Europe flying again... Ryanair will work closely with public health authorities to ensure that these flights comply, where possible, with effective measures to limit the spread of Covid-19."

In London, Ryanair shares are trading at 9.17 euros, up 3.42 percent.

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