Ryanair boss Michael O'Leary wants Theresa May to stop "faffing around" in India and focus on Brussels

 
Rebecca Smith
Michael O'Leary's not impressed with how the government's handling Brexit
Michael O'Leary's not impressed with how the government's handling Brexit (Source: Getty)

Ryanair has just raised its passenger growth forecast but chief executive Michael O'Leary isn't happy.

He told the BBC that business was "booming" but the environment was "bearish" post-Brexit. And he was particularly unimpressed with how the government is proceeding, saying it had "no idea" as to how it will actually deliver Brexit.

O'Leary said Prime Minister Theresa May was "faffing around in India" when Brussels was the place she should be focusing on to get trade deals done.

Read more: Ryanair shares jump five per cent at the open as it reports hike in profit

The Prime Minister arrived in India yesterday, for her first bilateral trip outside of the EU, vowing to "reboot" the relationship between the two nations. The plans are for May to sign a raft of commercial deals while out there, expected to generate 1,370 jobs.

She's leading a delegation including the likes of British inventor James Dyson, Lloyd's chairman John Nelson and Standard Life chairman Sir Gerry Grimstone.

Read more: PM May backs independent judges as she arrives in India

But O'Leary feels the focus should be on navigating a smooth exit from the EU. He was a vocal opponent to Brexit and after the vote announced Ryanair would be shifting its focus for expansion away from the UK and onto the EU.

Ryanair reported an increase in profits during the first half of the year, despite O'Leary stating that "difficult market conditions" are proving a problem in the wake of Britain's vote to leave the EU in June. Shares soared five per cent on the news as the budget airline announced plans to return €550m (£490m) to shareholders via a share buyback.

It expects revenues from fares to fall in the second half of the financial year by 13 per cent to 15 per cent. The airline's cutting fares to encourage more people to travel, which O'Leary said was "bad news for my shareholders, but great news for my customers".

Related articles