February 6, 2017 / 11:36 AM / a year ago

Ryanair CEO says expects lower fares in year to March 2018

DUBLIN (Reuters) - Ryanair (RYA.I) 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.

    Reporting by Conor Humphries; editing by Jason Neely

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