Ryanair had a “difficult year” in 2009 - O'Leary

Ryanair CEO, Michael O'Leary, stated the LCC had a "difficult year" in 2009 (Irish Independent, 16-Jan-2010). Looking forward, Mr O'Leary predicts more bankruptcies across the travel industry, while passengers will increasingly elect to book flights independently from package holidays. Mr O'Leary also expects fares to continue to drop, stating there is "no limit" to how far they can be decreased. Ryanair plans to handle 90 million passengers p/a by 2012, up from the current 60 million p/a.

Ryanair: "We had a difficult year. Earnings are down; traffic is up; fares are down; profits are down. But that's always much more interesting than when everything's going well," Michael O'Leary, CEO. Source: Irish Independent, 16-Jan-2010.