Ryanair chief executive Mr Michael O’Leary today rejected claims that the airline industry was in crisis.
Speaking on RTÉ radio this morning, Mr O’Leary said: "Ryanair has responded quickly to the recent problem by lowering air fares and trying to keep the market moving, keep the seats full and the staff employed - basically fly our way out of this problem".
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Mr Michael O'Leary
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"Bookings are actually up slightly on the pre-September 11th levels by between 5 and 10 per cent even if the average fare price is down," he said.
He said people in Europe were continuing to fly and that this will continue to be the case.
Mr O’Leary said he believed the Shannon stopover will be gone within a year despite Government assurances to the contrary.
He also warned the Irish tourist industry was "facing collapse" next year as the American component would probably be cut in half as a result of the terrorist attacks.
The falloff has to be replaced from somewhere, he said. Mr O'Leary also called on the Government "get off its backside and do something to stimulate Irish tourism".
He said his company has repeatedly called on the Government to allow it to put low airfares back into Ireland from continental Europe but had yet to receive a reply.
Mr O’Leary said he was comfortable with analysts’ predictions the company would make euro 140 million profits this year despite the September 11th attacks.
At midday today Ryanair shares were trading 62 cents up at euro 9.95.
