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EASYJET PLC

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Spain-based cabin crew at easyJet plan July strike

06/21/2022 | 05:56am EDT

MADRID, June 21 (Reuters) - Spain-based cabin crew at easyJet plan to go on strike for nine days in July to demand higher pay from the budget airline, local union USO said on Tuesday, potentially adding to travel woes as the sector struggles to cope with rebounding demand.

Workers will walk out on July 1-3, 15-17, and 29-31, Miguel Galan, general secretary of USO's easyJet section, told reporters on Tuesday.

The airline' flight attendants in Spain are demanding a 40% increase in their basic salaries, he said.

The basic salary, which excludes bonuses and extra pay, stands at 950 euros ($1,005) for easyJet's Spanish staff, which is much lower than in countries such as France and Germany, Galan said.

"The company underestimated the outlook, was more pessimistic and conservative and is not ready for the demand… this generates a domino effect on us," Galan said.

Still, the union, which says it represents 80% of the 450 staff based in Spain, still hopes an agreement can be reached to avoid the strike during a meeting with management on Tuesday, Galan said.

Pent-up travel demand after two years of restrictions due to the COVID-19 pandemic is stretching airlines and airport operators, causing staff shortages and long queues in terminals all over Europe.

Rising consumer prices and tough working conditions are pushing staff at many airlines in the region to protest and walk out.

Cabin staff at easyJet's larger rival Ryanair plan to go on strike this month and in July in Spain and several other countries.

($1 = 0.9452 euros) (Reporting by Corina Pons, writing by Inti Landauro; editing by Andrei Khalip and Jason Neely)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
EASYJET PLC 0.67% 407.4 Delayed Quote.-27.25%
RYANAIR HOLDINGS PLC 0.28% 12.585 Real-time Quote.-17.70%
All news about EASYJET PLC
08/09EASYJET : Gets a Buy rating from UBS
MD
08/02MARTIN SORRELL : Sorrell's S4 Capital bolsters board with Colin Day appointment
RE
08/01EASYJET : Goldman Sachs reiterates its Buy rating
MD
07/29EasyJet Pilots in Spain to Strike for Nine Days in August
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07/29Spanish-based easyJet pilots to go on strike for nine days in August
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07/29Air France-KLM cuts capacity levels on 'operational challenges'
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07/29EasyJet's Spanish Cabin Crew Call Off Planned Strike Following Deal For Better Pay, Ben..
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07/28Spanish easyJet cabin crew call off strike after reaching pay deal
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07/28Norse Atlantic Airways Teams Up with Airlines to Extend Weekly Flights to Europe, US
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Financials
Sales 2022 5 663 M 6 916 M 6 916 M
Net income 2022 -110 M -134 M -134 M
Net Debt 2022 772 M 942 M 942 M
P/E ratio 2022 -22,3x
Yield 2022 0,08%
Capitalization 3 058 M 3 734 M 3 734 M
EV / Sales 2022 0,68x
EV / Sales 2023 0,47x
Nbr of Employees 13 000
Free-Float 84,1%
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Number of Analysts 19
Last Close Price 404,50 GBX
Average target price 606,89 GBX
Spread / Average Target 50,0%
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Managers and Directors
Johan Peter Lundgren Chief Executive Officer & Director
Kenton Jarvis Chief Financial Officer & Director
Stephen Alan Michael Hester Chairman
Stuart Birrell Chief Data & Information Officer
David Morgan Chief Operating Officer
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