O'Leary blows 169M - Ryanair pilots take paycuts!

[Colada]

O'Leary put Ryanair 169M in the red last quarter, and all through his own mismanagement.

A combined write down of 222M on Aer Lingus shares (to follow the 70M already written off, and the 110M yet to come), plus his screw up on fuel hedging hit the bottom line hard.

What is is solution to this loss?
Resign?
Take a paycut?
Sell your shares and reimburse the company?

No - none of the above!

The O'Leary solution is - make the Staff pay for YOUR mistakes.

His pilots will take paycuts as follows:

Sector pay has been reduced by approximatly 1800 Net a year
Base transfers will be subject to a further 10 percent cut in Basic salary
New Captains take a 10 percent cut in basic salary and 10 percent cut in Sector pay

That hot on the heels of a memo stating they would now have to pay for Rental cars and Hotels at their twice yearly mandatory simulator training sessions in London.

Similiar cuts are being foisted on other staff.

Pity the poor employees of this scurrilous company.
The Millionaire Management screws up - the low paid workers pay the price.

[Panopticon]

Well if 222M was a write-down and 169M was the total loss, did the write-down not account for the whole loss? I don't see where Ryanair's fuel hedging comes into the fact that they made a loss. With all due respect, if one thinks a pilot is in any way "low-paid", especially in this climate, then one cares more about Ryanair than about labour market reality.

[cinik]

Some food for thought here:

On strike with Ryanair! - PPRuNe Forums

How to motivate your employees?
Exploiting Pay to fly wannabee pilots and cabin crew
What are the IAA and other European authorities doing about it?
Nothing.

AVOID

[Mazzy Maz]

Can we finally put the "you wouldn't get away with that in the private sector" myth to bed now? Please!

[TheLastPaddy]

In spite of his obnoxiousness at times, O'Leary, for all his faults, is the guy that makes Ryanair a success commercially. If a pilot doesn't like the pay and conditions, he can go sell his skill and expertise to the highest bidder elsewhere. If you don't like O'Leary and you are a shareholder ask the shareholders who elect him to manage the company to turf him out. If you are not a shareholder or an employee, what business is it of yours?

[cinik]

In spite of his obnoxiousness at times, O'Leary, for all his faults, is the guy that makes Ryanair a success commercially. If a pilot doesn't like the pay and conditions, he can go sell his skill and expertise to the highest bidder elsewhere. If you don't like O'Leary and you are a shareholder ask the shareholders who elect him to manage the company to turf him out. If you are not a shareholder or an employee, what business is it of yours?

"You pays your money and makes your choice"
Happy to sit behind someone whose primary qualification is the fact that
he/she could pay for a pilots licence?

Its a free world

[TheLastPaddy]

"You pays your money and makes your choice"
Happy to sit behind someone whose primary qualification is the fact that
he/she could pay for a pilots licence?

Its a free world

If you suspect that Ryanair are using pilots who do not meet proper standards to fly their aircraft, report the matter to the Aviation Authority and other relevant bodies immediately. If you choose not to, your comment looks very much like just another jibe at a company whose management you just don't like.

[cinik]

If you suspect that Ryanair are using pilots who do not meet proper standards to fly their aircraft, report the matter to the Aviation Authority and other relevant bodies immediately. If you choose not to, your comment looks very much like just another jibe at a company whose management you just don't like.

We are talking about simple exploitation here, no more no less.

Consider the morale and atmosphere, in an organisation that treats its employees in such a manner as outlined by some of the posts in the link above.

Its a free world

[TheLastPaddy]

We are talking about simple exploitation here, no more no less.

Consider the morale and atmosphere, in an organisation that treats its employees in such a manner as outlined by some of the posts in the link above.

Its a free world

OK, I read the comments on the link, which are generally negative, but a few pilots giving out about conditions is not grounds for much, is it ?

You are changing tack going on about morale and exploitation. We all know that O'Leary is a capitalist and will try to maximise profit in the interests of sharelholders but so what?
Pilots and other staff are free to look for alternative employment if they are not happy and good luck to them.

Unless you have some connection with the airline and unless the law is being broken, allegations of exploitation need to be backed up with hard evidence. Ryanair staff are adults after all and they have chosen to work with the airline under those terms and conditions.

It is not our concern whether there is a great morale or a lousy one in Ryanair so long as it doesn't endanger people and the service as advertised is provided.

[wexfordman]

I beleive o'leary himself took a paycut also, but that one conventiently got ignored!!

Leaner Michael O’Leary denies ill health - National News, Frontpage - Herald.ie