Ryanair strikes new pay agreement with Irish pilots

Low-cost carrier Ryanair confirmed on Tuesday that it has inked a four-year pay agreement with Ireland's Fórsa union that will see its Irish pilots receive an "accelerated restoration" of pay cuts previously agreed upon during the Covid-19 pandemic.

Ryanair stated that the aforementioned pay cuts will now be fully restored in the Irish pilots' December payroll and added that the agreement also incorporated three years of pay increases - spread over the next four years up to March 2027.

Darrell Hughes, Ryanair's people director, said: "We welcome this pay restoration agreement with Fórsa and our Irish pilots which will see pay cuts previously agreed during Covid restored in the Dec payroll in time for Christmas.

"This agreement which includes annual pay increases for the next four years now brings our Irish pilots into line with similar pay restoration deals concluded with our other pilot unions across Europe over the past 9 months."

Separately, Ryanair also announced a new route from Cardiff to Belfast, operating twice weekly from April 2023 as part of its Summer schedule.

As of 0930 GMT, Ryanair shares were down 2.22% at €12.58 each.

Reporting by Iain Gilbert at Sharecast.com