Ryanair Pilots Agree 12 Month Pay Freeze

Irish budget airline Ryanair said on Tuesday that its pilots had agreed to a 12 month pay freeze as an alternative to a 10 percent cut in salary.

Ryanair had originally sought a pay cut to address the current downturn and two consecutive quarters of trading losses at the airline.

"Management at Ryanair has already accepted significant pay cuts. Now our pilots have rowed in with a pay freeze and better productivity enhancements," David O'Brien, Ryanair's director of flight operations and ground operations, said in a statement.

Earlier this week, Europe's largest low-cost carrier said that from the summer it would reduce the number of aircraft based in Dublin to 17 from 22, closing four routes and cutting the frequency of flights on eight others due to an increase in airport charges and taxes.

The group's full-year guidance is for a net profit of between EUR50 million and EUR80 million euros versus an earlier projection of break-even as lower fuel costs boost the bottom line.

The airline expects to increase overall passenger numbers across the network by about 9 million to 67 million this year.