Ryanair CE sees end to pilot crunch as profits feel pinch

Ryanair CE Michael O’Leary said the carrier can raise pay for pilots and still retain a pricing advantage over rivals after a staffing crunch led profit to slide in its busiest quarter. O’Leary pledged Tuesday to press on with a review of flight rosters, benefits and salaries as he seeks a permanent solution to a meltdown that left Ryanair short of flight crew at the end of the summer season. The stock posted its biggest gain in more than 2 years after the carrier reaffirmed a forecast for record profit even amid costs to hire pilots from recently failed rivals and offer 20% more pay than peers. While the proposed salary award would increase annual costs by E100m (US$116m) if accepted across the company, O’Leary said that it “will not significantly alter the substantial unit-cost advantage we have over all other EU airline competitors.” <br/>