Ryanair expects to emerge as Europe's only major low-cost carrier
Michael O'Leary said concerns about the impact of recession and rising consumer price inflation on Ryanair’s business model have been greatly exaggerated.
Ryanair predicted it would eventually become Europe's only major low-cost carrier, with Chief Executive Michael O'Leary claiming a widening gap on costs would make rivals easyJet and Wizz takeover targets.
"Europe is inexorably moving towards a similar out-turn as North America where you will have three very large, somewhat higher cost, high-fare connecting carriers, and one very large low-cost carrier" in Ryanair, O'Leary said.
