Ryanair: ‘One low-cost carrier will fail this year’

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Ryanair has predicted that at least one European no-frills carrier would go bust this year because of an ongoing price war.

The Irish airline said it is expecting its fares to drop by between five and 20 per cent this year, which in turn is likely to reduce its post-tax profits by some 10 per cent.

He reportedly singled out bmibaby, MyTravel Lite, FlyBe, Germania, German Wings and Hapag Lloyd Express as those carriers “most exposed”, adding: “They won’t all go bust but there will be consolidations, acquisitions and mergers.”

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