Financial News

  • 17 September 2013, 14:19

Ryanair: Stansted Deal 'To Create 7,000 Jobs'

Ryanair says a ten-year deal with the owners of Stansted Airport may result in up to 7,000 new jobs being created.

The no-frills carrier said the agreement, which will see Ryanair grow its traffic at Stansted by over 50% from 13.2 million passengers in 2012 to over 20 million each year, was in return for a package of lower costs and more efficient facilities at the Essex airport.

Ryanair's job creation figures were based, it said, on research which found that up to 1,000 "on-site" jobs are sustained at international airports for every one million passengers.

The airline announced the move seven months after Manchester Airports Group (MAG) bought Stansted from Heathrow's owner - then-known as BAA.

Ryanair's chief executive, Michael O'Leary, said the deal "proves how UK airports can flourish when released from the dead hand of the BAA monopoly and is the first dramatic initiative by MAG to reverse 7 years of decline, during which Stansted's traffic fell from 23.8 million to 17.5 million".

He added: "As Stansted's biggest airline, Ryanair looks forward to a decade of growing traffic, routes and jobs at Stansted.

"We are also pleased to release our Stansted summer 2014 schedule with 120 routes, including four new routes to Bordeaux, Dortmund, Lisbon and Rabat."

MAG's chief commercial officer Ken O'Toole added: "The new long-term agreement between Ryanair and MAG at Stansted shows that competition really does work, and it represents great news for both passengers and UK businesses.

"The deal secures a new and exciting era for both Ryanair and Stansted, and we're delighted to be supporting the airline's growth over the next ten years.

"Today's announcement, coupled with our 80m investment in the terminal, confirms that Ryanair shares our confidence, and shows how we are succeeding in transforming Stansted under new ownership.

"Stansted has a really bright future in providing international connectivity for the UK."

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