The chief marketing officer of budget airline Ryanair Holdings PLC (LON:RYA), Kenny Jacobs, has told a news conference in Madrid that the firm is working to reach deals with European trade unions by Christmas and implement them next year.
“We want to have agreements in place with crew and pilots by Christmas,” Jacobs said, adding that the airline had already accepted demands from Spanish unions to hire local staff on Spanish contracts.
READ: Ryanair slashes profit guidance on strike impact and higher oil prices
The announcement follows a profit warning yesterday when the company cut its full-year profit expectations by 12%, saying worse could follow if a wave of pilot and cabin crew strikes across Europe continued to cause cancellations and declines in booking numbers.
In late afternoon trading, Ryanair shares were down 1.7% at 11.2p.