O’Leary faces investor fears in Ryanair row

INVESTORS are hoping that Ryanair boss Michael O’Leary can prove on Tuesday he has the airline’s long-running spat with his pilots under control.

City sources expect a change of tone from the normally wise-cracking O’Leary when he unveils the firm’s latest half-year figures. It follows the flights cancellation debacle and reports that pilots are plotting industrial action.

In recent months Ryanair has cancelled thousands of flights affecting 715,000 passengers following a ‘mess-up’ on rostering of pilots, with many quitting.

One City bank source said: ‘Unusually, he’ll be using this as a platform to calm the market down rather than to generate publicity for the company, which has been his strategy for the past 32 years.

‘What we’re all looking for is how the pilots are reacting to the negotiations.

‘He may tell us, “We’re engaging with pilots, we are offering increased pay, loyalty bonuses and it’s all brilliant.” But until we know for sure that pilots are happy with new terms and the risk of industrial action has severely diminished the market will remain uneasy.’

The source said O’Leary’s job was not under immediate threat, but added: ‘Nothing is unthinkable – this has clearly been the biggest operational problem Ryanair has ever had.

‘If the problems are resolved everyone is delighted. If not, then ultimately his management style could come into focus.’