Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

Ryanair shares slump after plans to cut 3,000 jobs amid Covid-19 crisis

The low-cost airline carrier saw its shares take a tumble after announcing plans to cut 3000 jobs due to the economic fallout from the Covid-19 crisis.

Ryanair saw its shares fall 4% on Friday, after announcing plans to cut 3000 jobs due to the economic impact of the Covid-19 crisis.

The low-cost airline carrier also warned investors that it could take up to two years for the company to fully recover from the impact of the outbreak and see its performance return to pre-crisis levels.

‘Ryanair now expects the recovery of passenger demand and pricing (to 2019 levels) will take at least two years, until summer 2022 at the earliest,’ the company said.

‘Ryanair airlines will shortly notify their trade unions about its restructuring and job loss programme, which will commence from July 2020.’

Ryanair is trading at €9.82 per share as of 14:15 (GMT) on Friday.

Ryanair dramatically reduces flights in Q2

The low-cost airline told investors in its Covid-19 market update that it will operate less than 1% of its scheduled flights in April, May and June.

Ryanair also said that it expects to carry no more than half of its traffic target of 44.6 million passengers over the second quarter (Q2) 2020.

‘Ryanair is now reviewing its growth plans, and aircraft orders,’ the company said. ‘We are in active negotiations with both Boeing, and Laudamotion’s A320 lessors to cut the number of planned aircraft deliveries over the next 24 months, which could reduce our capex commitments, to more accurately reflect a slower and more distorted EU air travel market in a post Covid-19 world.’

How much does it cost to buy UK shares with IG?

There are three ways to ‘buy’ UK shares with IG: spread betting, trading CFDs or buying physical shares. The cost will depend on which method you choose. The table below illustrates how the costs to get exposure to £10,000 of Lloyds stock, which is equivalent to 16,000 shares (quoted at 62.5p a share).

Remember, spread bets and CFDs are derivatives, which come with higher risk and reward than investing.

Cost to get exposure to Lloyds stock

Spread betting CFD trading Share dealing
Action Buy £160 per point Buy 16,000 share CFDs Buy 16,000 shares
Capital required to open £2000 £2000 £10,000
Total fees £20.88 £20.88 £16

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Note: Amounts do not include overnight funding charges and taxes. Spread bets are not subject to tax. CFDs are free from stamp duty, but subject to capital gains tax. Share dealing is subject to both stamp duty and capital gains tax.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

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