Ryanair CEO says departure date ‘a moveable feast’
08.04.08
Ryanair Chief Executive Michael O'Leary admitted his departure from Europe's biggest budget airline had become something of a ‘moveable feast’ after saying several times over the past 2 years that he would go in the next 2 to 3 years. He joked yesterday: ‘I think at least another 10 years,’ when asked how much longer he planned to stay. ‘I plan to go on and on and on like Chairman Mao.’
Mr O'Leary said he wanted to win his fight for greater competition at UK and Irish airports before going. He said: ‘Frankly, if I had a competing terminal at Dublin airport and the break-up of the London airport monopoly then I think it would be an appropriate time to go.'
He said: ‘My plan has always been remarkably consistent. I intend to step down in the next two or three years. It's a bit of a moveable feast. But one day I'll be right.’ However, he added that his plans could always change in 6 months, saying he was ‘not entirely wedded’ to Ryanair.
Mr O'Leary also revealled that the airline plans to remove even more aircraft from Stansted Airport next winter than last year and introduce capacity reduction measures at Dublin for the first time.
He painted his usual bleak picture for the airline industry, describing current conditions as dreadful, but said Ryanair, which has a fleet of about 120 Boeing 737-800 aircraft, was ready to exploit the downturn by buying more. He said: ‘In recent months, aircraft prices have crashed. All of a sudden the manufacturers are starting to feel the cold draught.’
Mr O'Leary said he did not expect to snap up troubled rivals, however: ‘But we'll be very happy to see them all go bust.’
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