Ryanair has threatened to close its Shannon and Cork operations and cut 120 pilot jobs unless pilots agree to a 20% pay cut.

According to reports, the airline asked pilots to accept proposals including a pay cut that would be reversed over four years, a spread of available work via job shares and unpaid leave, and increased productivity.

The level of job losses and whether the two regional bases remained would depend on the number of acceptances received.

Ian Guider, markets editor of the Business Post, joined us for the business news with this story and more, including:

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