Share

Ryanair CEO ‘Very Cautious’ on Profit Forecast Amid Fare Drop

“There are certain things Europe has no competence in and no rights in”. They should just write a letter to Europe and tell them politely to fuck off with themselves.

Advertisement

Ireland has done well over the last 30 years from its low tax rate and light-touch regulation to attract inward investment from multinationals such as Apple, giving them a “user-friendly” bridgehead in the EU’s Single Market, still the world’s largest by value.

“We’re not yet revising the guidance”, chief executive Michael O’Leary told reporters at a press conference to launch next year’s London summer schedule.

He added the budget airline, which launched two new routes to Strasbourg and Faro from its London terminals, will slow its United Kingdom capacity growth from 15% this year to 6% in 2017 in response to the uncertainty triggered by the pro-Brexit vote.

Ryanair made a decision to slow the rate of growth of its capacity in the United Kingdom in 2017 following the result of the Brexit vote.

That, he claimed, would resolve the runway capàcity issue for the next 50 years.

The boss of budget airline Ryanair has called on the UK’s government to end uncertainty over airport capacity by authorising new runways at Heathrow, Gatwick and Stansted.

David Cameron stalled on backing the recommendation, saying the Government required more time to assess the environmental impact.

“We’ll have more capacity to grow, fares will fall and in a declining fare environment, we’ll win”, O’Leary said.

Advertisement

Ryanair’s summer schedule sees a new twice weekly route to Strasbourg and increased frequency on flights to Sofia and Nuremburg.

Ryanair boss Michael O'Leary says Ireland 'should tell EU to f*ck off&#039 over Apple