Ryanair shares are higher Thursday, as the budget airline announced it has reached an agreement with the Forsa union, who represents its Irish pilots. No details on the agreement are available as yet, as the proposals go to a ballot.
Separately, Ryanair has agreed a deal with Air Malta, which will allow the Irish airline to sell the Maltese airline’s flights through its website.
By 0930 BST, Ryanair shares were 5.97% higher at €13.94. The stock has been moving broadly lower in recent weeks, as the airline has been beset with a variety of strikes and flight cancellations.
Ryanair, Forsa reach agreement
Following months of disagreements and strike action by Ryanair’s Irish-based pilots, the Irish budget airline and pilots union Forsa have finally found common ground during meetings overnight.
However, no details on the proposed agreement are available as yet, as Forsa puts them to its members in a vote.
“Ryanair today (Aug 23) confirmed that overnight it had reached an agreement with FORSA union and its Irish pilots committee on behalf of Republic of Ireland based pilots. Ryanair will take these proposals to its Board in due course after the Irish based pilots have voted on this signed agreement,” Ryanair tweeted Thursday.
“The mediator, Keiran Mulvey, has asked both sides to refrain from further comment until the ballot has concluded and we will respect his wishes,” the tweet states.
Ryanair’s Irish pilots have taken industrial action on five separate occasions during the summer season, leading to multiple flight cancellations for Ryanair.
Ryanair’s Air Malta deal
Separately from Ryanair’s potential breakthrough with its Irish pilots, the budget airline has also reached a deal with Air Malta and will sell flights for the airline through the Ryanair website.
“We are pleased to announce this exciting partnership with Air Malta, which allows our 139 million customers to browse and book flights on 21 new routes from Malta to exciting cities in Austria, Czechia, Israel, Morocco, Russia, Switzerland, Tunisia and Ukraine, in addition to over 300 existing destinations available on the Ryanair.com website, the world’s largest travel website, which receives over 50m unique visitors every month,” Ryanair’s CCO, David O’Brien said.