Ryanair Recognizes Unions in Historic Shift to Avert Strike (bloomberg.com)

December 18, 2017

By Richard Weiss and Dara Doyle

  • Carrier’s reversal came hours before first planned walkout
  • Shares fall as analysts expect rising costs for Irish airline

Ryanair Holdings Plc buckled under pressure from disgruntled pilots and agreed to recognize labor unions in an eleventh-hour move by Europe’s biggest budget airline to avert strikes threatening flight disruptions during the busy holiday season.

The move led shares to plummet the most in almost a year and a half amid investor concern the carrier’s labor costs will rise. Unions in a number of European countries reacted coolly to the airline’s overture, with Irish pilots maintaining a scheduled walkout.

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