Ryanair staff unpaid leave; execs 10% pay cut
08.10.08
Four hundred Ryanair pilots and cabin crew will be forced to take one week of unpaid leave this year as the budget airline cuts back flights from Dublin and Stansted, the Times reports. Michael O’Leary, the chief executive of Ryanair, said the airline’s executives would also receive a pay cut of at least 10% because of the financial difficulties facing the sector.
To cope with high costs and lower demand, Ryanair is planning to reduce flights from Stansted and Dublin this winter. 15 aircraft will be parked at Stansted, its largest base, and 5 at Dublin. The unpaid holiday will be imposed on staff at Dublin and Stansted and, based on an average Ryanair salary of €60,000 (£47,000), will cost them about €1,150 each in lost earnings.
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