Faced with more strikes, Ryanair prepared to move jobs to Poland

Ryanair, which operates from 86 bases in 37 countries, has already said it plans to move crew and planes from Dublin, saying strikes there are harming bookings. (Reuters)
Updated 31 July 2018

Faced with more strikes, Ryanair prepared to move jobs to Poland

VIENNA: Faced with the prospect of widening strikes by crews in Europe, Ryanair Chief Executive Michael O’Leary on Tuesday threatened to move more jobs to Poland if walk-outs hurt its business.
Europe’s largest airline by passenger numbers pledged in December to recognize unions for the first time but it has struggled to reach collective labor agreements with some.
Its pilots in Germany voted overwhelmingly on Monday in favor of striking, adding to Ryanair’s recent labor woes after strikes last week by Dublin-based pilots and stoppages by cabin crew in Italy, Spain, Portugal and Belgium.
Ryanair, which operates from 86 bases in 37 countries and carried 130 million passengers last year, has already said it plans to move crew and planes from Dublin, saying strikes there are harming bookings.
O’Leary on Tuesday said he was prepared to cut jobs “in any market” if necessary.
“We are the ultimate opportunistic airline,” O’Leary told a news conference at its Austrian unit Laudamotion’s offices.
“We have today — in Ryanair — 20 markets that need more aircraft. We’re short of aircraft in almost every market in which we operate because of the demand for our prices, our services,” he said, adding those included Poland, which is home to its Ryanair Sun unit.
“If some market is being damaged as the Irish market has been damaged in recent months by these activities, the Polish market is growing hugely strongly for us, the Ryanair Sun is very full, profitable, we need more aircraft in the Polish market — move aircraft to Poland.”
Pilots are demanding more transparent systems for promotions and transfers to reduce what they say is excessive management discretion over their careers, while cabin crew want local contracts and better conditions.
“As long as there’s common sense on their side then we’ll reach agreements,” O’Leary said, speaking of unions and pilots in general.
“If we have people who just want to have strikes for the sake of having strikes then they can have strikes and they’ll find themselves (with) jobs getting moved and aircraft getting moved.”
O’Leary also said he wanted to grow Laudamotion and Ryanair Sun more quickly, which would require additional planes and crew — a challenge in today’s environment. If an airline collapsed, however, that would make crew and planes more readily available.


Egyptian state banks collect over $10bn from high-yield savings product

Updated 49 min 51 sec ago

Egyptian state banks collect over $10bn from high-yield savings product

CAIRO: Egypt’s two biggest state banks have collected 171 billion Egyptian pounds ($10.5 billion) from a new high-yield savings product they introduced in March, officials from the two banks were quoted as saying on Saturday.
The one-year product, launched on March 22, carry a 15% yield.
An official at the National Bank of Egypt said it had collected 122 billion pounds, while Banque Misr’s chairman said it had gathered 49 billion pounds, state news agency MENA reported.