Exclusive: Ryanair sees price war fuelling rapid air travel recovery [Reuters]
Boeing Company (The) (BA)
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Source: Reuters
Ryanair sees quick airline recovery marked by low fares PARIS (Reuters) - Ryanair ( RYA.I ) is steeling for an airline price war that it expects to win once coronavirus restrictions are lifted and passengers flock back to tourist destinations, Chief Executive Michael O’Leary told Reuters on Wednesday. Brushing off forecasts of a sluggish recovery, O’Leary predicted a swift traffic rebound, with the pain coming instead from “massive price-dumping” that traditional airlines now seeking bailouts would struggle to keep up with. “When this thing is over there is going to be such massive discounting going on that there will be a large spike upward in travel and tourism for a period of time,” O’Leary said. “How long it will take pricing to recover ... we think that’s out into 2021, but who knows?” Asked if 2021 would see weak profits, he said: “No. I think 2021 has every prospect of being a bumper year in terms of earnings. Prices will be lower, but oil prices will be lower. There will be
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BA
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