BUSINESS NEWS
O’Leary: ‘We’ve seen the collapse of airlines in Europe and there will be more. Ryanair will be one of the few to grow’
O’Leary expects failures as ‘grim winter’ looms
Ryanair chief tips weak pricing to trigger collapse of other carriers. By Ian Taylor
Ryanair boss Michael O’Leary fears a second wave of Covid, sees schools returning in September as “the biggest challenge” and expects the next six to 12 months to be “grim”. But he insists Ryanair will profit from the Covid crisis. O’Leary, chief executive of Ryanair
Holdings, accused the government of “panic” in reimposing quarantine restrictions on travellers from Spain this week, but said: “We can suffer an interruption like two weeks to Spain from the UK. As long as there is a
36 30 JULY 2020
reasonably uninterrupted return of air travel we will continue at around 60% [capacity].” He warned: “Where governments
impose restrictions we will pull out capacity.” Yet he suggested: “Many people will still fly.” Ryanair resumed flying at the end
of June, operated 40% of its normal schedule this month and plans to operate 60% in August and 70% in September. Speaking on Monday as Ryanair reported a €185 million loss for the
three months to June, O’Leary said: “The recovery in July and August has been reasonably strong. We’re confident of 70% load factors. I’m more concerned about September and October. I would not rule out taking out more capacity. “The biggest challenge is going
to be managing the return of schools in September. To the extent they manage that there will be some
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