DUBLIN: Ryanair on Thursday promised its pilots significant improvements in pay and conditions, saying it would exceed rates paid by rivals and improve job security, according to a letter to pilots seen by Reuters.
The Irish airline, the largest in Europe by passenger numbers, has in recent weeks announced the cancelation of thousands of flights, saying it did not have enough standby pilots to ensure the smooth operation of its schedule.
The move has sparked customer outrage and a wage of negative media coverage across Europe.
Unions have said a significant number of pilots have left Ryanair in recent months to get more secure contracts, better pay and improved conditions at rival airlines.
Ryanair last week said reports it had a pilot shortage were false, saying less than 260 of its 4,200 pilots had left so far this year and that it was in the process of hiring 650 more.
On Thursday CEO Michael O’Leary sent a three-page letter to its pilots promising “significant improvements to your rosters, your pay, your basing, your contracts and your career progression over the next 12 months.”
The letter, addressed to “all Ryanair pilots,” said Ryanair would “beat” the pay and job security offered by fellow Boeing 737 operators Jet2 and Norwegian Air Shuttle.
He repeated a promise to increase pilots’ pay by between €5,000 ($5,856) and €10,000 per year at four key bases and to negotiate with pilots at other bases about increases. He also pledged to offer a loyalty bonus of between 6,000 and 12,000 euros for pilots still employed at the airline in 12 months’ time.
But he added a new offer to match local employment conditions where they differ from the Irish contracts under which all Ryanair pilots work, another key demand of the pilots.
Changes to the roster systems would mean that “your days off will really mean days off,” he added.
The conditions mirror demands made in a letter by pilots at a number of Ryanair’s 86 bases last month. While Ryanair does not recognize trade unions, pilots have been using social media to organize in recent months.
The often outspoken O’Leary, who last month said he “would challenge any pilot to explain how this is a difficult job,” praised his pilots in the letter, describing them as “the best in the business.”
He said the critical comments made at last month’s annual general meeting had been misreported and were specifically directed at pilots of competitor airlines and their unions.
— Reuters
Ryanair promises pilots significant improvements in pay, conditions
Ryanair promises pilots significant improvements in pay, conditions
Egypt awards $6.5m exploration deal to UK’s Terra Petroleum
RIYADH: The Egyptian General Petroleum Corp. has signed a $6.5 million oil and gas exploration agreement with UK-based Terra Petroleum, marking the company’s first operations in Egypt.
The agreement aims to drill three wells in the Northwestern El Moghra concession area of the Western Desert, in addition to conducting 2D and 3D seismic surveys, according to a statement.
The deal aligns with Egypt’s Ministry of Petroleum and Mineral Resources’ strategy to boost exploration and production.
It also follows Egypt’s signing of three oil and gas agreements worth more than $121 million with international firms in September, aimed at strengthening the energy sector through new exploration and drilling projects across key hydrocarbon zones
A Facebook post on the official Egyptian Cabinet Presidency page stated: “Following the signing of the agreement, the Minister of Petroleum and Mineral Resources Karim Badawi welcomed the leaders of Terra Petroleum and stressed that this step reflects the confidence of international companies in the investment climate of the Egyptian petroleum sector, given its stability and continuous development.”
It added: “The Ministry is working to provide all aspects of support to serious companies and to provide a stimulating investment environment that contributes to accelerating exploration and production activities and increasing production rates.”
In August 2024, Egypt uncovered a significant new oil deposit in the Western Desert, which officials said could substantially boost the country’s energy production.
The discovery, made at the West Fewebs-1 well in the Kalabsha Development Area, revealed a substantial reserve of high-quality oil.
The find highlighted Egypt’s ongoing efforts to tap its energy potential, particularly in the Western Desert, a region long recognized for its oil and gas prospects.
According to a statement issued at the time, Badawi emphasized the importance of the discovery, noting that the well had already shown promising results.
During the same month, Egypt unveiled a new set of incentives aimed at stimulating exploration and development, increasing output, and reducing the gap between domestic supply and demand.
More than 60 international companies currently operate across 183 exploration and production sites in the Mediterranean Sea, Nile Delta, and Western and Eastern Deserts, as well as Sinai and Upper Egypt, under the oversight of companies affiliated with the Ministry of Petroleum.
