Ryanair shares are higher Friday, as the Irish budget airline announced it had created an acceptable framework for a collective labour agreement with the unions that represent its Italian-based cabin crew. The move comes as the airline has faced numerous bouts of industrial action from its various European staff.
By around 1400 BST, Ryanair shares were 1.15% higher at €13.20. The stock has been broadly lower in recent weeks.
Ryanair agrees Italian staff CLA framework
Ryanair said earlier Friday, that it had created a mutually acceptable framework for a CLA with the unions representing its Italian-based cabin crew staff.
The framework they have agreed, will run for three years and includes that Italian cabin crew staff will:
- Be governed by Italian law and the Italian Courts.
- Allow Italian cabin crew transition to local contracts over an agreed period.
- Deliver increased pay under a new pay structure, which will see crews benefit from increased tax-free allowances (similar to other Italian airlines).
- Introduce an Italian Pension Scheme as part of the overall package.
“We welcome this agreement with the 3 Italian cabin crew unions on the terms of a Collective Labour Agreement (CLA), which will cover all of our Italian based cabin crew, and will start from next month,” said Ryanair’s chief People Officer, Eddie Wilson.
“We expect to sign this first CLA for our Italian cabin crew before the end of Sept, which will lead to significant pay improvements and other benefits for our Italian based cabin crew. This agreement is a further sign of the significant progress Ryanair is making in reaching agreements with our people and their unions in different EU countries,” Wilson added.
Cabin crew to strike
This latest successful step for the Irish airline follows news earlier this week that its cabin crew from five countries it operates in, are set to strike on September 28th.
Ryanair cabin crew staff from Spain, Portugal, Belgium, Italy and the Netherlands said they would all strike on the same day. However, following the news of a CLA framework with Italian unions, the countries taking part in the strike, will likely be lower.