Ryanair Holdings plc (RYAAY - Free Report) gets respite from strike actions by its UK-based cabin crew as the trade union UNITE representing the airline’s UK crew votes in favor of a four-year collective labour deal.
The agreement valid until 2023 will cover all employees of the carrier’s UK crew. 80% of the members of the union voted in support of the labor contract, which will introduce a pay structure with higher guaranteed income and returning to a 5/3 roster.
The 5/3 schedule includes early duty for five days followed by three days off and five days of late duty followed by three days off.
On another positive note, the trade union British Airline Pilots' Association (BALPA), representing Ryanair's UK-based pilots, recently called off five strikes that were set to take place in the remainder of September. Following this considerate move by the pilots, the discount carrier invited BALPA to resume negotiations with the company.
Earlier in the month, amid Ryanair chief executive Michael O'Leary’s statements on his pilot lay-off (due to oversupply) plans and failed strike actions by unions, the BALPA accused the management of threatening pilots "with the removal of staff travel benefits and inflated and draconian deductions from salary" in case they participate in walkouts.
However, O'Leary denied such allegations saying that "it is illegal to blacklist someone for being involved" in trade unions. He further added that "it has never happened, but we have been accused of it for around 30 years now."
Zacks Rank & Other Key Picks
Ryanair carries a Zacks Rank #2 (Buy). Other top-ranked stocks in the same space include Controladora Vuela Compania de Aviacion, S.A.B. de C.V. (VLRS - Free Report) , Copa Holdings, S.A. (CPA - Free Report) and SkyWest, Inc. (SKYW - Free Report) . While Controladora Vuela and Copa Holdings sport a Zacks Rank #1 (Strong Buy), SkyWest holds a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Controladora Vuela, Copa Holdings and SkyWest have rallied more than 89%, 23% and 29%, respectively, so far this year.
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