Ryanair has told its customers that all of its UK flights will take off as scheduled next week, despite the 3-day strike called by the pilots’ union Balpa. The airline said more than 95% of UK pilots had confirmed that they would work their rosters during the industrial action, due to take place Monday to Wednesday, Sept 2-4. A 2-day strike in August by Balpa pilots, which Ryanair had unsuccessfully sought to prevent with a high court injunction, failed to stop any of the 892 daily flights from operating, according to the airline. Although Balpa has refused to confirm pilot numbers, Ryanair has claimed that fewer than 30% of its 1,250 UK pilots voted for industrial action. Ryanair said that it had invited Balpa to meet to resume negotiations, but the union had refused. <br/>
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Ryanair has cancelled less than 1% of its daily schedule of flights to and from Spain over the first 2 days of planned strikes by Spanish cabin crew, the carrier said Thursday. Unions representing cabin crew announced the plans to hold 10 days of strikes throughout September unless Ryanair changes plans to close several bases in the country. They will be joined by Spanish pilots for 5 days towards the end of the month. The action follows strikes this month by unions in Britain and Portugal, the first unrest the airline has faced in a year. The strikes however have so far caused nowhere near as much damage as last year after Ryanair ran a full schedule with few delays in both countries. <br/>
Thomas Cook has agreed on the key commercial terms for a GBP900m (US$1.1b) recapitalisation, which will include ownership changes at the group’s airline unit. Updating the markets Aug 28, Thomas Cook said it had reached “substantial agreement” on key commercial terms with Chinese company Fosun Tourism Group, its banks and the majority of its 2022 and 2023 senior noteholders. The deal will see Fosun inject GBP450m in return for at least 75% of Thomas Cook’s tour-operator business and 25% of its airline unit. Meanwhile, the banks and noteholders are aiming to inject another GBP450m, converting their existing debt into up to 25% of its tour-operating arm and approximately 75% of Thomas Cook’s airline unit—effectively the mirror image of the Fosun deal. <br/>