Airlines will have to cut fares after Brussels attacks, says Ryanair chief executive Michael O'Leary

 
James Nickerson
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Aerial Views Of Frankfurt-Hahn Airport
O'Leary said it's too early to say if there will be a material impact (Source: Getty)

Airlines are going to have to cut air fares after the Brussels attacks, Ryanair's chief executive has warned.

Michael O'Leary warned on Tuesday that fares will have to be reduced as nervousness around flying has increased after last month's attacks in Brussels.

"In January-March we'll see a €10-20m hit. That's due to the air traffic control strikes and the Brussels attacks. What is harder to gauge is what will be the impact on travel confidence after Easter, in the April-May period," O'Leary told Reuters.

Read more: Flight bookings decline after deadly attacks in Belgium's capital

"It's too early to say if there will be a material impact. In general, the airlines will have to lower air fares after Easter because there will still be a rump of nervousness."

O'Leary's comments come after attacks in Brussels last month, which claimed more than 30 lives and injured many more.

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