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Recession is Boosting Business for Ryanair

Monday, 1 Nov 2010 | 1:30 AM ET

Michael O'Leary, CEO of Ryanair, told CNBC the recession is "very good for business." He said Ryanair is able to increase fares and still take traffic from other airlines as customers cut their budgets. "Theyâ??re already fleeing from high-fare airlines so I think they're paying us slightly more and still saving a fortune," he explained.