Europe’s biggest budget airline has cut up to 3,000 jobs and will impose pay cuts of up to 20 per cent.
Irish carrier Ryanair also said it will close some bases "until traffic recovers" from the coronavirus pandemic.
The staff cull will affect mainly pilots and cabin crew.
The airline said it will not be running more than a skeleton service until July – and even then, only around half the expected passengers will travel.
Ryanair is currently flying around 1,700 passengers a day on a much-reduced network of Irish Sea and Continental services.
Between July and September it expects to fly no more than half of the planned service of almost half-a-million passengers per day.
In a market update, the Dublin-based carrier said: "When scheduled flights return in Europe, sometime in July, Ryanair believes it will take some time for passenger volumes to return.
"Consumer confidence will be impacted by public health restrictions, such as temperature checks at airports and face coverings for passengers and staff on board aircraft."
Chief executive, Michael O’Leary, also dismissed the notion of social distancing on board aircraft.
He told Sky News: "Taking out the middle seat in an aircraft achieves no social distancing.
"There’s less than two feet between the aisle and the window seats.
"What we are recommending, and what the aviation industry is moving towards, is temperature checks on passengers at the airport – so that anybody who has a temperature of 38 degrees is asked to go home and self-isolate."
Ryanair believes traffic will not return to pre-coronavirus levels for at least two years.
The airline is in talks with Boeing about reducing aircraft deliveries in the next 24 months.
