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Ryanair CEO: Optimistic for Summer but Winter Will Be Tough

Monday, 21 May 2012 | 1:30 AM ET

Michael O'Leary CEO of Ryanair, told CNBC, "We think next winter is going to be very tough, oil prices are up there is general sentiment across Europe of recession and austerity. It is good for our business we will go strongly but the yield environment will be difficult and hard to compensate for much higher oil prices."