ref="http://www.cityam.com/company/ryanair">RYANAIR has called a truce with the new owner of Stansted after persuading the airport to cut its fees, in a deal the budget airline claims will create 7,000 jobs.
The Irish carrier has agreed a 10-year growth deal with Manchester Airports Group, which bought Stansted in January, that will see its traffic through the airport rise by more than 50 per cent to 20m passengers a year.
Ryanair said this growth will create 7,000 jobs over the next five years, on the assumption that 1m passengers per year will sustain 1,000 on-site jobs.
“This agreement… proves how UK airports can flourish when released from the dead hand of the BAA monopoly,” said Ryanair boss Michael O’Leary.
Ryanair had previously threatened to move flights away from Stansted in protest at the airport charges.
Stansted will only cut its fees after the increases in passenger numbers had been delivered, O’Leary said.
“Today’s announcement, coupled with our £80m investment in the terminal, confirms that Ryanair shares our confidence,” said MAG’s chief commercial officer Ken O’Toole in a statement.