Ryanair Announced 12% Revenue Growth

The low-cost airline Ryanair announced revenue growth, but warned of possible "local" staff cuts, BBC reported.

The company also undertook the long-awaited step of recognizing the trade union organizations of its employees, which it refused to do for years.

In the last quarter of 2017 Ryanair's revenue increased by 12% to 106 million and the number of passengers increased by 6% to 30.4 million.

The company expects its total revenue to exceed 1.4 billion euros.

"While we are finalizing discussions on union unions, we want to warn that local cuts are expected to be prepared for investors," Ryanair said.

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