Ryanair shares are lower Thursday after the budget Irish airline announced it had cancelled 600 flights on July 25th and 26th due to widespread strikes by European cabin crew staff.
The airline has also announced a new agreement with the Ver.di Union, who will now represent its German cabin crew.
By 1215 BST, Ryanair shares were 0.31% lower at €15.89. The stock has been moving broadly lower in recent weeks.
Ryanair flight cancellations
Ryanair said Wednesday it had cancelled 600 flights due to planned cabin crew strikes in Belgium, Portugal and Spain.
Some 50,000 Ryanair customers are affected by the industrial action over pay and working conditions. Ryanair has already informed all the affected passengers who have been rebooked on other flights or been given a full refund.
“Ryanair sincerely apologises to our customers for these disruptions which we have done our utmost to avoid,” said Ryanair’s chief marketing officer Kenny Jacobs. “These strikes are entirely unjustified and will achieve nothing other than to disrupt family holidays and benefit competitor airlines in Belgium, Portugal and Spain.”
The strikes coincide with the beginning of the UK school summer break and follows previous strike action by Ryanair’s Irish-based pilots.
Ryanair signs union agreement with German cabin crew
Separately, Ryanair said Thursday it had signed an agreement with the Ver.di Union to represent its German cabin crew.
“We are pleased to sign this cabin crew recognition agreement with Ver.di in Germany,” said Ryanair’s chief people officer, Eddie Wilson.
The agreement means that over 60% of Ryanair’s directly employed cabin crew now trade union representation, Wilson said.
“We hope to announce further agreements over the coming weeks, in those countries where unions have approached these negotiations in a practical and positive manner,” Wilson added.
This is the third cabin crew union agreement Ryanair has reached since it moved to recognise unions at the end of 2017. It follows an agreement with Italian cabin crew Union representatives at ANPAC and ANPAV and with UNITE to represent its UK-based cabin crew staff.