The French air traffic controller (ATC) strike has left thousands of passengers stranded as they tried to return home.
Budget airline Easyjet confirmed that it has been forced to cancel almost 600 flights as the industrial action entered its second day. The carrier cancelled 248 flights on Wednesday (April 8th) and then a further 331 on Thursday. It has prompted Easyjet to lay on five "rescue" flights on Friday to allow people to get to their destinations.
One of the main priorities of the flights is to bring three parties of schoolchildren back to the UK. Other services include runs from Luton to Paris, Paris to Barcelona, Barcelona to Luton, Gatwick to Madrid and Marrakech to Gatwick. Easyjet confirmed that these services will be run by larger aircraft to ensure passengers most affected are able to return home.
France's ATC strike caused some stress to Easyjet's share price which dropped down to 1,880 in early morning trading on Friday (April 10th). However, it has since rallied and currently stands at 1,893 as 09:28 BST.
The strike is proving extremely problematic for airlines across Europe. On Thursday, many carriers were changing their routes to ensure they avoided French airspace while the likes of Ryanair and Air France said that they would be cancelling a raft of flights.
Ryanair said in a statement: "We again call on the EU [European Union] and French authorities to act now and prevent thousands of travellers being held to ransom by these French [air traffic control] workers."
The strike action, brought by the union SNCTA, concerns the age of retirement for ATCs. Members are upset that it is being raised from 57 to 59. Further strikes are planned from April 16th to 18th and April 29th to May 2nd.
StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.