Ryanair share price gains eroded after pilots vote for strike action
The low-cost airline saw the gains it made early in Thursday’s session evaporate after its pilots voted for to go on strike over pay and a host of other issues.
Ryanair saw its share price climb close to 2% on Thursday morning only to have its early gains eroded after the airline’s pilots said they plan to go on strike over pay and working conditions.
The British Airline Pilots Association (Balpa) announced two planned strikes between the 22-23 August, with a second walkout scheduled to take place over the 2-4 September.
‘Our claim includes many issues including pensions; loss-of-licence insurance; maternity benefits; allowances; and a fair, transparent, and consistent pay structure,’ Balpa said in a statement.
‘We have made no progress with Ryanair management on any of those areas at all, seemingly because Ryanair management cannot understand how to go about working with us constructively, or how to negotiate.’
Ryanair’s share price sits at €9.32, down 1%, as of 14:35 GMT on Thursday.
Balpa has no mandate to disrupt holidaymakers, Ryanair says
Balpa claims that 80% of pilots voted in favour of strike action in late August and early September, based on a 72% turnout – meaning 56% of union members approved the walkouts.
Ryanair, however, disputes those figures, claiming that less than 30% of UK-based pilots supported the motion when accounting for non-members.
‘Balpa have no mandate to disrupt our customers holidays and flights, particularly at a time when UK pilots are facing job losses due to the Boeing Max delivery delays, and the threat of a no-deal Brexit on 31 October,’ a spokesperson said.
In response, Balpa general secretary Brian Strutton said that union members do not wish to spoil holidaymakers’ plans, but Ryanair has left pilots no other choice, though they hope to resolve the dispute and avoid strike action.
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