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Bloomberg
Ryanair Holdings Plc reached a new labour deal with protesting Irish pilots after a marathon negotiating session, pointing to the end of a dispute that’s disrupted travel for thousands of
passengers across Europe.
Shares of Ryanair rose the most in three months in Dublin, where the company is based, following 22 hours of discussions.
The accord will now be put to a ballot of pilots, with the Forsa labor group, which led the talks, recommending that they accept it.
A settlement in Ireland is seen as key to resolving a wider dispute at Ryanair, as it was staff in the carrier’s home country who initiated a near year-long push for better employment terms.
The Irish pilots last walked out on August 10 in an action that also involved crews from Germany, Belgium, Sweden and the Netherlands, causing more than 400 flights to be scrapped.
The breakthrough marks the first collective labor agreement at Europe’s biggest discount airline since it agreed to accept unionisation amid a staff-rostering crisis at the end of last year.
As such, it represents a “notable positive†for the company, Goodbody analyst Mark Simpson wrote in a note.
Ryanair shares advanced as much as 6 percent, their biggest intraday jump since May 21.