(Bloomberg) -- Pilots of Ryanair Holdings Plc. agreed to accept a temporary pay cut in order to stave off job cuts, the Balpa union says in a statement.
- 96% of the pilots voted to accept a 20% pay reduction in order to save 260 jobs that were at risk: Balpa
- 70 pilot jobs that are at risk because of planned base closures still to be resolved.
- As part of agreement, pilot pay to be restored to 100% over next four years: Balpa
- NOTE: Ryanair Cuts 3,000 Jobs, Challenges $33 Billion in State Aid
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