Ryanair AGM confident on EU ruling

Michael O'Leary has told the Ryanair AGM that he remains confident that a forthcoming EU ruling will not adversely damage the company's business model.

The Ryanair chairman said that he expects Commissioner de Palacio to formulate a framework which will not just allow but encourage all publicly owned airports to compete on a level playing field with privately owned airports all over Europe.

"Publicly owned airports, particularly in the regions of Europe, will continue to compete aggressively to win the low fare, high volume business which Ryanair generates," O'Leary said.

“No EU ruling could ever prohibit or constrain publicly owned airports from competing with the many privately owned airports which Ryanair operates to," he added.

O'Leary also made reference to the proposed KLM-Air France merger saying it was vital that low-fares airlines such as Ryanair provide competition to what he termed mega-carriers.

However, despite welcoming the Government's decision to break-up Aer Rianta, O'Leary remained critical of Government inaction on providing more terminals at Dublin airport.

"For a country which has such an outstanding record of being forward looking and forward thinking in attracting inward investment, I find it incredible that the enormous investment in aircraft, jobs and tourism offered by Ryanair, is still being held up by nothing other than a lack of action by the Irish Government," he told today’s AGM.

Going forward, the company expects to carry 24m passengers this year facilitated by a continuing investment in up to 250 new Boeing 737-800 series aircraft.

It also announced a €1 October flight sale on 260,000 seats.