Ryanair’s O’Leary upbeat on strikes
RYANAIR CEO Michael O’Leary is “hopeful and optimistic” that industrial relations issues will not damage the airline further this year after strikes contributed to a rare profit warning last week.
Europe’s largest low-cost carrier cut its full-year profit forecast by 12pc last week and warned worse may follow if recent strikes across Europe by pilots and cabin crew continue to hit traffic and bookings.
Mr O’Leary said management was making progress in talks with unions and was hopeful there would not be a further financial hit this year although there is “always a risk”. “I am hopeful and optimistic that we are making real progress with the unions and that we won’t have any further damage to the business this year,” Mr O’Leary said during an interview in Brussels.
“But the airline industry is under significant pressure. The oil price is now up at $85... it’s not a good time for unions to be creating disharmony.”
Asked about comments by Ryanair management during an analyst conference call last week that the airline was working to resolve all union deals in the next three to five months, Mr O’Leary said: “I don’t think it is helpful to put a timetable on it.”
He pointed to breakthroughs in talks with unions in Ireland and Italy and said Ryanair “hopes to make similar progress in other countries in the coming months”.