Ryanair pilots have agreed to a 12-month pay freeze and productivity improvements as a preferred alternative to the company's proposal to cut pay by 10%.
This follows a round of negotiations at the company's 31 pilot bases across Europe.
Ryanair’s director of flight operations and ground operations, David O’Brien, said: “Management at Ryanair has already accepted significant pay cuts. Now our pilots have rowed in with a pay freeze and better productivity enhancements.”
O’Brien said the moves will help Ryanair achieve its target of reducing unit costs by 5% over the coming year and added that the cost cutting measures will allow Ryanair to continue to grow, as well as recruit and retain pilots. In addition, O'Brien said the changes will help to create new jobs and promotions for the firm's 6,000 employees.
The company has seen two consecutive quarters of trading losses, and expects further losses in the next two quarters of this year.