Ryanair weighs workers' pay freeze as higher fuel prices may raise fares
Pay and fares under review
Ryanair is considering temporarily freezing staff wages to help meet a sharp increase in fuel costs. The airline has not said whether it will implement the freeze. It expects European airfares to increase to help cover its higher costs. Ryanair forecast that its fuel bill would be €2bn (£1.6bn) higher in the short term.
Profits fell six months
Ryanair reported pre-tax profits of €2.4bn for the six months to the end of September, a 16% decline. The airline said higher fuel costs were largely responsible for the fall.
The profit figure covers the six months ending in September. The company’s forecast of a higher fuel bill refers to the short term.
War disrupts fuel supplies
Reduced Gulf supplies have increased competition for refined products made elsewhere. The article links that pressure to the rise in aviation fuel prices.
Key points
- Ryanair is considering a temporary wage freeze for staff.
- The airline forecasts a €2bn (£1.6bn) short-term increase in its fuel bill.
- Ryanair expects European fares to rise to help cover costs.
- Pre-tax profits fell 16% to €2.4bn in the six months to September.