Ryanair may freeze workers’ pay as fuel prices spike
Ryanair is considering a temporary wage freeze for staff to pay for a sharp rise in its fuel costs which have surged following the US-Israel war with Iran, according to the BBC. The carrier said it expects fuel prices to remain high well into 2027 unless there is a swift resolution to the conflict. Ryanair said its fuel bill is forecast to be €2bn higher in the short-term and said it expects European airfares to increase to help cover the cost. But it said that was unlikely to be enough and, among a number of measures, it is looking into temporary pay freezes. The BBC has contacted Unite, the union which represents Ryanair employees, for comment. The airline said its pre-tax profits fell by 16% to €2.4bn during the six months to the end of September, largely due to higher fuel costs. Ryanair's chief executive, Michael O'Leary, said last month he expects the firm and other airlines to increase fares by 15% to 20% next year.