Ryanair shares closed higher Tuesday, as the Irish budget airline has agreed a union deal with its Italy-based pilots. The majority of pilots represented by the Italian ANPAC union voted to agree a collective labour agreement with the business, suggesting the airline’s union-related woes are slowly resolving.
Ryanair shares ended the Tuesday trading session 2.14% higher €14.35. After moving lower earlier during the month, the stock has been climbing more recently.
Ryanair agrees Italian pilot deal
Ryanair announced Tuesday that it had reached an agreement with ANPAC, the union representing its Italian pilots. The development follows hot on the heels of an agreement with the FORSA union, representing its Irish-based pilots.
“We welcome this first CLA with our Italian pilots and hope that it will be shortly followed by a similar agreement covering our Irish pilots,” said Ryanair’s chief people officer, Eddie Wilson.
“We have invited our UK, German and Spanish unions to meet with us in the coming days so that we can negotiate and hopefully agree similar pilot CLAs in these other larger markets. These agreements demonstrate the real progress being made by Ryanair in its negotiations with its pilots and their unions across different EU markets,” Wilson added.
ANPAC union notes ‘historic’ agreement
The deal with the Italian pilots union comes after Ryanair has experienced a tough summer which has been beset with a variety of industrial action from pilots across the countries it operates in.
The Italian ANPAC pilot’s union noted that the agreement its pilots had signed with Ryanair was a historic development.
“After 8 months of negotiations, the ANPAC has signed the first Collective Labor Contract for Pilots employed by the Ryanair company based in Italy,” the Union said.
“It is a historic event for the Irish carrier as the Collective Labor Contract of Italian law signed by ANPAC and valid for Ryanair dependent pilots based in Italy,” ANPAC added.