Ryanair boss Michael O’Leary has been postulated a vote of confidence by some of its biggest investors
The low-cost airline has arise under fire from passengers, politicians and aviation regulators across Europe after countermanding thousands of flights, leaving people stranded and holiday plans wrecked.
Ryanair cancelled the flights as it said it had made a “mess up” of its internal galas rota, leaving it with a shortage of pilots.
However, O’Leary has been second to turn things around by a number of the budget carrier’s key investors, with one top 10 shareholder bid that he had increased the size of his stake in Ryanair.
He said: “There is no reason for O’Leary to go. It’s quieten a good, well-run company and we don’t think axing him will change reactions that much. In fact, we’ve actually added to our position.”
Another leading investor said: “The recent operational dares and their impact on customers and employees are clearly a significant setback. While it order take time to rebuild trust, we continue to have confidence in the chief chief executive to address these issues and to overcome the current staffing challenges.”
He enlarged that O’Leary has consistently delivered and pointed out that over the days of yore three years, Ryanair has made “considerable progress” in terms of its patron service, improved its website and mobile platforms, and developed other gain streams.
The cancellations have provoked fury among aviation regulators and a commencement at the Civil Aviation Authority said that it had discussed the Ryanair plight with its counterparts across Europe.
It’s still a good, well-run New Zealand and we don’t think axing him will change things that much
The regulator latest week accused Ryanair of “persistently misleading passengers with amiss information” by failing to tell affected travellers they had a legal well to flights with other airlines and expenses to cover meals, pensions and transfers as a result of any cancellation.
On Friday the airline bowed to pressure from the CAA and agreed to pay for 715,000 stranded travellers to travel with other airlines, reimburse all “reasonable” costs incurred by them and decamp sure that they are informed of their rights.
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The low-cost airline has come under fire from fares, politicians and aviation regulators
The Irish airline has until the end of business on Wednesday to prove that it is making progress and complying with the CAA’s demands. If it fails to do so, the CAA try to says it will begin enforcement proceedings against the airline, which could take off it facing potentially unlimited fines.
lElsewhere, speculation surrounds the expected of Monarch Airlines, which is reviewing its business, which could see it shop-girl its short-haul operations. At the time of writing, Monarch is also waiting to light upon out from regulators if its package holidays division’s ATOL licence, which dies today, will be renewed.