Ryanair

Type
Business expansion
Country
Portugal
Region
Continente;
Location of affected unit(s)
Porto, Algarve
Sector
Transportation / Storage
51 - Air transport
51.1 - Passenger air transport
51.10 - Passenger air transport
120 jobs
Number of planned job creations
Job creation
Announcement Date
21 December 2022
Employment effect (start)
21 June 2023
Foreseen end date

Description

Ireland-based airline Ryanair will launch 19 new routes from Porto and Faro (Algarve), which will create 120 new jobs. Ryanair will invest almost €400 million in this process and in Porto it will create 11 new connections and 8 in Faro. 

Both the bases in Faro and Porto will have two more planes (Boeing 737) operating in the next high season in order to respond to the increase in supply. According to the company's CEO, the expansion of the operation in Portugal was possible due to the reduction of the taxes at these two airports.

Lisbon and the Azores and Madeira islands are out of the company expansion plan, due to their high airport taxes.

Sources

Citation

Eurofound (2022), Ryanair, Business expansion in Portugal, factsheet number 108250, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/108250.