Ryanair retains profit forecast

Ryanair’s decision to recognise unions for the first time will not alter its profit forecast for the year, chief executive Michael O‘Leary has said.

Ryanair’s decision to recognise unions for the first time will not alter its profit forecast for the year, chief executive Michael O‘Leary has said.

Staff costs at the airline will increase by €100m in the current financial year following recent pay hikes, but rates of pay increases may moderate after that as the airline will no longer have to pay extra to attract pilots to a non-unionised airline, he said.