Tribe Technology set to deliver healthy pipeline of orders from Tier-One miners. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksInternational Airlines Share News (IAG)

Share Price Information for International Airlines (IAG)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 162.25
Bid: 162.40
Ask: 162.55
Change: 1.35 (0.84%)
Spread: 0.15 (0.092%)
Open: 160.85
High: 163.55
Low: 159.90
Prev. Close: 160.90
IAG Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UPDATE 1-Ryanair to cut significantly fewer jobs after pay deals

Fri, 21st Aug 2020 15:42

* Pay cuts mean no redundancies needed among pilots to date

* Agreements still to be reached in Belgium, Italy, Germany
(Adds detail, quotes)

By Padraic Halpin

DUBLIN, Aug 21 (Reuters) - Ryanair plans to cut
significantly fewer jobs than the 3,000 it originally estimated,
after 97% of pilots and over 90% of cabin crew have signed up so
far to pay cuts and work practice changes, its director of
operations said on Friday.

Europe's biggest budget airline had warned it would have to
cut one in five of its pilots and cabin crew if they did not
agree to pay cuts of up to 20% after the COVID-19 crisis ravaged
its business.

The Irish airline struck a pay deal with Spanish pilots on
Thursday, leaving agreements outstanding with pilots in Belgium
and cabin crew in Italy and Germany.

"We haven't finalised the number yet, we originally said
there was going to be 3,000 redundancies but we have been able
to reduce that significantly," Neal McMahon told Reuters in a
telephone interview.

"Broadly speaking they (pilots and cabin crew) recognise the
grim situation we are in and they have been pragmatic."

Ryanair's Italian cabin crew union has put an agreement out
to ballot, while there were further talks in Germany on Friday
and the airline is in the middle of a collective redundancy
process in Belgium, Ryanair People Director Darrell Hughes said.

While cabin crew in Spain failed to join pilots in agreeing
terms this week, the collective bargaining system there allows
Ryanair to implement the changes and Hughes was confident its
position would stand up to challenge.

The executives added the airline had managed its pilot
numbers without redundancies to date through a mixture of
voluntary part time work, voluntary unpaid leave and spreading
shifts around.

Low-cost rival easyJet confirmed the loss of up to
670 jobs this week, part of a planned total of 4,500 that will
also likely be trimmed due to agreements on part time contracts,
base transfers and unpaid leave.

British Airways, owned by IAG, said in April it
would need to axe up to 12,000 of its 42,000 staff to survive.

Ryanair this week reduced its capacity by a further 20% for
September and October after a reimposition of some travel
restrictions hit bookings.

McMahon and Hughes said the number of redundancies would
depend on how winter booking fare and how much the pandemic
disrupts travel next year. Ryanair increased flights to 60% of
its normal schedule this month after resuming services in July.

"Airlines have for a long time relied on business traffic,
visiting friends and relatives and maybe an older non-family
market for travel in September, October, November," Hughes said.

"It's a big question as to what that level of demand is
going to be, but it's not looking good at present."
(Reporting by Padraic Halpin; Editing by Susan Fenton and Mark
Potter)

More News
22 Nov 2023 14:41

Aurrigo inks USD290,000 deal with IAG for Cincinnati airport in US

(Alliance News) - Aurrigo International PLC on Wednesday said that it has signed an agreement with International Consolidated Airlines Group SA for the deployment and demonstration of its autonomous aviation solutions.

Read more
21 Nov 2023 15:19

London close: Stocks slip ahead of FOMC minutes, Autumn Statement

(Sharecast News) - London stocks finished in the red on Tuesday as investors examined the latest UK borrowing data ahead of Wednesday's Autumn Statement.

Read more
21 Nov 2023 09:57

IN BRIEF: International Consolidated Airlines seeks to restore payouts

International Consolidated Airlines Group SA - Madrid-based owner of British Airways, Iberia, Vueling and Aer Lingus - Hosts capital markets day for institutional investors and analysts on Tuesday, saying its 2023 outlook remains unchanged. "We expect 2023 to be a year of strong recovery in our margins, operating profit and balance sheet and towards pre-Covid-19 levels of capacity," the company had said with its third-quarter results back in October.

Read more
21 Nov 2023 09:20

IAG reiterates commitment to resuming dividends

(Sharecast News) - British Airways owner IAG on Tuesday set out its medium-term targets and pledged its commitment to resume paying dividends once its balance sheet and investment plans are "secure".

Read more
17 Nov 2023 13:59

British Airways' green fuel project wins UK government backing

(Alliance News) - A partnership involving International Consolidated Airlines Group SA's British Airways to develop lower carbon aviation fuels has secured a share of new UK government funding.

Read more
15 Nov 2023 09:41

LONDON BROKER RATINGS: Deutsche likes Compass; Numis cuts Elementis

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

Read more
6 Nov 2023 16:59

LONDON MARKET CLOSE: Stocks fail to shine despite dovish sentiment

(Alliance News) - Stock prices in London closed mixed on Monday, whilst US markets opened higher, with investors continuing to digest hopes that interest rates have peaked.

Read more
6 Nov 2023 12:04

LONDON MARKET MIDDAY: Tepid start to new week as investors take stock

(Alliance News) - London's FTSE 100 drifted marginally lower heading into Monday afternoon in uncertain trade as investors reassess the near-term outlook for equity markets after a bullish week for stocks last week.

Read more
30 Oct 2023 09:40

LONDON BROKER RATINGS: Jefferies cuts NatWest to underperform from buy

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and Friday:

Read more
27 Oct 2023 17:08

LONDON MARKET CLOSE: Poorly-received earnings weigh on European stocks

(Alliance News) - Stock prices in London closed mixed on Friday, hurt by share price falls for the banking sector, while investors also digested underwhelming earnings elsewhere and a US inflationary reading.

Read more
27 Oct 2023 12:06

LONDON MARKET MIDDAY: Oil majors lift FTSE 100 but banks fall

(Alliance News) - Stock prices in London were up at midday on Friday, as the FTSE 100 was led higher by oil majors, tracking a rise in the Brent price.

Read more
27 Oct 2023 09:18

TOP NEWS: BA-owner IAG has "record" quarter despite air traffic snafu

(Alliance News) - International Consolidated Airlines Group SA on Friday hailed a "record third-quarter performance" that provided money for investment and debt reduction.

Read more
27 Oct 2023 07:54

LONDON BRIEFING: NatWest notes "serious failings" in Farage findings

(Alliance News) - Stocks in London are set to open slightly higher on Friday, as investors wait for a key US inflation reading.

Read more
27 Oct 2023 07:07

IAG reports record third quarter as demand continues to recover

(Sharecast News) - British Airways owner IAG reported a record-breaking third-quarter operating profit of €1.745bn on Friday, marking a substantial increase from the €1.216bn reported in the same period of 2022.

Read more
20 Oct 2023 17:06

LONDON MARKET CLOSE: Stocks down after difficult week for markets

(Alliance News) - Stock prices in London closed lower on Friday, after a difficult week for markets, as investors contend with the heightening war in the Middle East as well as the prospect of higher interest rates.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.