Ryanair is revoked not only by his workers (who have called another strike this weekend in Spain), but also their shareholders. The start of the stoppage of ground personnel and pilots in our country as of Thursday has coincided with a controversial shareholders meeting in which an increase in the remuneration received by the CEO, Michael O'Leary has been approved .

It has been approved despite the fact that half of the shareholders have voted against this premium system for O'Leary with which they will earn up to 100 million euros in five years.

Under this system, the executive will be able to buy 10 million shares of the company in five years from € 11.12. The condition is that the titles exceed 21 euros in the following five years and that the profitability of the group is doubled to 2,000 million euros.

The price of the company's shares has been reduced almost by half in these years due to the continuous conflicts that the group has with its workers (the staff in the different countries of Europe where they are present call for strikes every two by three) and for the problems derived from the delay in the delivery of 737 MAX aircraft.

Problems in Spain

Ryanair already had the aircraft, but delivery is delayed and the airline says that some of its bases, not having the devices and not being able to operate the flights, are no longer profitable.

It is, for example, what happens in Spain with the three bases that it intends to close (Tenerife, Gran Canaria and Girona) in 2020. Its closure, which will lead to about 500 layoffs, is what has caused the unions to have called stoppages for all this September.

From today there are new days of strikes, although in reality it is a sterile strike because Ryanair has not canceled any flight considering that all are part of the minimum services. That is, the flights will be operated. The unions denounce that the pilots have received letters in which the airline warns them that they must go to work because their flight is part of those minimum services.

Layoffs

In this same meeting of shareholders held today the airline's cut plan has also been approved, which it considers to have a surplus "of between 500 and 700 pilots", according to O'Leary.

According to the company, some pilots may be offered 12 months of leave without pay. The layoffs could be announced in the coming weeks.

Ryanair's workforce in Europe is about 17,000 employees. In June, he already warned that he would make cuts because of the economic losses generated by the delay in 737 MAX deliveries.

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