The “surprise” announcement of the departure of its chief operating officer Peter Bellew has again put Ryanair under the spotlight of investors as the airline may face into more turbulence as fuel costs rise for the industry.
CRH yesterday faced one of the largest shareholder revolts over executive pay in Irish corporate history, with more than 40% of its shareholders — representing a combined €8.5bn of its €21.4bn market value — opposing a hike in bonuses at its AGM.
Newly appointed Malaysia Airlines boss and former Aer Lingus chief Christoph Mueller has said that the Asian carrier is “technically bankrupt”, underlining the case for a restructuring to cut a third of jobs, scrap some routes, and review its long-haul fleet.
Transport Minister Leo Varadkar has sought “full details” of the financial package of Aer Lingus CEO Christoph Mueller, saying it “jars” with him that anyone’s pension contributions should rise when a massive pension deficit remains at the airline.
The Labour Relations Commission has once again been tasked with finding enough common ground between Aer Lingus management and its staff to stave off potentially significant strikes which could ground tens of thousands of passengers in the run-up to Christmas.