O'Leary cautions on negative Charleroi decision

Ryanair chief Michael O'Leary said today he was concerned that the outcome of a European Union investigation into the no-frills airline's operations at Belgium's Charleroi airport would "devastate" low-cost air travel in Europe.

O'Leary said there was nothing to change his view of last month that the long-awaited ruling by the European Commission would go against the Irish carrier.

"We still understand, but we haven't seen this, that the draft decision is negative," he told reporters in Brussels after a two-day seminar organised by 27 regional airports from around the EU.

"A negative decision here will devastate Charleroi, will be bad for consumers and bad for low-cost air travel," he said.

The EU's executive body is finalising a probe into whether Ryanair's contract with the publicly owned airport at Charleroi amounts to illegal state aid.

A decision is expected late this month or early February.

Ryanair's shares fell nearly 2%, or 19 cent, to €6.65 on the ISEQ index in Dublin.