Fare wars will get hostile, warns O’Leary

EUROPEAN airlines are facing an Armageddon price war this winter, Ryanair boss Michael O’Leary predicted yesterday, but said he expects company profits to increase by 20%.

“It is going to be awful out there. There are going to be continuing fare wars in 2005,” he told a UBS transport conference in London.

Mr O’Leary said he could not say by how much fares would be cut.