Ryanair CEO says expects lower fares in year to March 2018

DUBLIN: Ryanair is assuming average fares will fall by about 5 percent as it prepares its annual budget but "does not have a clue" how they will actually perform, Chief Executive Michael O'Leary said on Monday.

"We are working on budgets for full year (to March 31) 2018 where we are assuming a yield decline of something of the order of 5 percent, but that is a guess.

We hope it will be less than that it might be worse than that," O'Leary said.