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Budget airline Norwegian ‘is doomed,’ Ryanair’s Michael O’Leary claims

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Ryanair‘s CEO Michael O’Leary said that rival airline Norwegian is bound to go bust sooner or later, claiming that the company is “doomed.”

Never one to mince his words, O’Leary told CNBC Monday that the rival budget European airline Norwegian was saddled “with enormous debts.”

“We’re seeing the emergence of four or five large airlines across Europe and Ryanair is by far the largest in passenger number terms, and you’ve seen in our numbers this morning that we’ve delivered 11% traffic growth … on the back of 5% lower airfares,” he told CNBC’s “Squawk Box Europe.”

“We are continually cutting costs, Ryanair is continually passing on those lower fares, and that’s what stimulating our growth…



Source cnbc.com

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