Jul 23, 2018
Ryanair profits hit by higher wage costs
Ryanair says its profits have been hit by higher wage costs as the airline faces strike action by staff over pay and conditions. It said higher oil prices and a fall in fares also dented profits in the April to June quarter, which fell 20% to €319m,. Ryanair also said average fares this summer would be lower than expected. Ryanair said staff costs were up by 34% because of a 20% increase in pilot pay, 9% more flight hours and a 3% general pay increase for non-flight staff. "Ryanair said:"While there is a view that a 21-month transition agreement from March 2019 to December 2020 will be implemented, recent events in the UK political sphere have added to this uncertainty, and we believe that the risk of a hard Brexit is being underestimated. "We may be forced to restrict the voting rights of all non-EU shareholders in the event of a hard Brexit, to ensure that Ryanair remains majority owned and controlled by EU shareholders."
Make a complaint about Ryanair by viewing their customer service contacts.