The low-cost airline has sacked 1,000 people, or 19% of its workforce, to save cash.
For the whole of 2021, senior management will take a 22% pay cut while salaries of pilots, cabin crew and office staff will be reduced by 14%.
The firm still expects to grow capacity by an average of 15% annually and said the launch of operations in Abu Dhabi is progressing in line with the initial timeline.
As of the end of March, the budget carrier had €1.5bn in the bank.
Statutory profit for the financial year ended last month is expected to be €270-280mln, factoring in quarterly hedging losses of €70-80mln.
Shares dipped 1% to 2,722p on Tuesday morning.