- Budget carrier Ryanair said it had made progress with three unions in Italy over the terms of a worker agreement for cabin crew.

A set of agreed principles were signed with the unions -- FIT CISL, ANPAC, and ANPAV -- that would form the basis of a comprehensive collective labor agreement from 1 October.

The parties were in the final stages of concluding final terms, which would run for three years, be governed by Italian law and allow crew to transition to local contracts over an agreed period.

Ryanair pledged to deliver increased wages under a new pay structure, which would see crews benefit from increased tax-free allowances similar to other Italian airlines.

An Italian pension scheme also formed part of the package.

'This agreement is a further sign of the significant progress Ryanair is making in reaching agreements with our people and their unions in different EU countries,' chief people officer Eddie Wilson said.

'And it disproves false claims made by smaller unions not involved in these negotiations, and who are threatening strikes later this winter, which will either not take place or be unsuccessful.' At 2:27pm: [LON:RYA] Ryanair Holdings PLC share price was +0.19p at 13.24p

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