Seven European pension funds managing €300bn in assets are offloading Ryanair from their portfolio due to the Irish Airliners’ controversial labour tactics, FT reported on Monday. The pension funds find the Irish company ethically controversial. Among the pension funds are the Danish ATP, Sam, and PFA and the Swedish Folksama. PKA is required to comply with guidelines for ethical investment, which it feels have been violated both in Denmark and in France. In 2015, Ryanair was instructe...
Ryanair has been removed from the portfolios of seven European pension funds managing assets of €300bn ($326bn), due to concerns over labour practices at the airline. The seven include Danish funds ATP, PFA and Sam; Swedish fund Folksam; the UK’s Baillie Gifford and business consultancy Hermes EOS. In a statement, Ryanair’s chief executive, Michael O’Leary, said: “While we are disappointed by today’s decision, it is not surprising given that our performance in recent years was below expectations.