Ryanair hit by turbulent staff relations
Never miss an issue of Master Investor Magazine – sign-up now for free! |
Shares in budget airline Ryanair (LON:RYA) descended 0.63 euros to 14.86 euros (as at 10:50 BST) as it said Pre-tax profit fell 20% to €345.4 million, as higher costs and strike action took their toll.
The firm said it continues to expect full-year profit after tax of between €1.25 billion and €1.35 billion, but this is “heavily dependent” on close-in second-quarter fares, crew strikes, continuing air traffic controller staff shortages/strikes and Brexit developments.
“If these unnecessary strikes continue to damage customer confidence and forward prices/yields in certain country markets then we will have to review our winter schedule, which may lead to fleet reductions at disrupted bases and job losses in markets where competitor employees are interfering in our negotiations with our people and their unions,” commented the firm.
“We cannot allow our customers [sic] flights to be unnecessarily disrupted by a tiny minority of pilots.”
Comments (0)