Ryanair shares lower; Irish pilots halt strike action, but seek further details

Ryanair shares are trading lower around mid-morning Monday, amid news that while multiple pilot strikes have been called off, pilot unions have sought meetings to clarify the details of Ryanair’s offer to recognise pilot unions.

Ryanair shares lower; Irish pilots halt strike action, but seek further details

Ryanair shares are trading lower around mid-morning Monday, amid news that while multiple pilot strikes have been called off, pilot unions have sought meetings to clarify the details of Ryanair’s offer to recognise pilot unions.

By 1110 BST, Ryanair shares were trading 4.60% in the red at €14.30. That’s over $3 lower than the recent peak of €17.98 the shares hit towards the end of November.

Ryanair to meet multiple unions

After releasing a statement Friday detailing its agreement to recognise pilot unions – something it has never done before – Ryanair is now in the process of arranging meetings with those unions. Some of which will take place this week.

A meeting with the Impact Union, who represents its Irish pilots, will take place Tuesday evening, after it was confirmed that the Irish pilot strike, which had been planned for December 20th, had been called off.

“IMPACT has this evening (Sunday 17th December) suspended a planned one-day strike of Ryanair pilots next Wednesday (20th December) after company management agreed to recognise the union as the representative of Irish-based pilots,” the union said in a statement.

“The union acknowledged the principled determination of Ryanair pilots, which it said had made this breakthrough possible, and said it looked forward to establishing a positive relationship with Ryanair company management,” IMPACT added.

Busy week for Ryanair

Ryanair is also planning to meet with other pilot unions across European.

It’s set to meet with the German pilots’ union Wednesday. And, Ryanair’s chief operations officer, Peter Bellow tweeted Saturday: “Let’s keep talking. Get people home quietly for Christmas. Union meetings planned next week…”.

German union, Vereinigung Cockpit, said: “The ball is now in Ryanairs’ court to underscore the seriousness of its proposal.”

“As soon as we have received dates to start the negotiation process, planned strike measures will be called off” VC president, Ilja Schulz said.

Top Equities Brokers

0 Brokers added for comparison:
Clear all