O’Leary ready for departure
MICHAEL O’LEARY, the ubiquitous boss of budget airline Ryanair, could stand down within a year, industry experts said yesterday.
The news came as the airline dismissed reports that Ryanair could take control of Aer Lingus through a rights issue.
“Our position on Aer Lingus was recently confirmed at the Ryanair AGM, which is that we are ‘highly unlikely’ to make a third offer,” O’Leary said in an emailed statement.
The chief executive, renowned for his outspoken nature and publicity stunts, flagged up his departure date at a recent investor day.
“I see him leaving within a year, realistically,” Collins Stewart’s Andrew Fitchie said yesterday. “He said he is likely to depart once a deal with Boeing is done and once the fights with Dublin Airport and Stansted Airport are concluded,” Fitchie added.
And Willie Walsh, the chief executive of airline British Airways (BA) has been rumoured as a possible replacement at his old firm Aer Lingus.
“Walsh is interested in returning to Aer Lingus where he worked as a pilot, before becoming chief executive to finish off what he started there,” one industry source said.
BA declined to comment.