joining us now to go throu the figures is michael o'leary, the ceo. d kari lundgren is also here with us. guy: looking very comfortable now. michael: the expensive seat here between the two pretty ladies. guy: you must be happy with the numbers. the summer was great. how is winter going to be? michael: winter is looking remarkably robust. our load factors were already rising. we've stepped up the full-year guidance. the full-year profits are now at the upper end of the range, just over 1.2 billion. we plan to lower fares, keep them flat in the third quarter, then down 4% in first quarter next year. most of the competition are either raising prices or withdrawing capacity. anna: does that constitute a price war? michael: i don't think so. ande are at the lowest end we have the lowest fares in europe, if we are planning to drive our fares lower, i think that means good news for consumers and bad news for the competition. going to cause that decline in fares is our capacity going up. i think for the next year or two, absent any extraneous events, we are g

europe spoke with michael o'leary earlier this morning. he gave his views on the airline market in general. >> heading for 1.2 billion in profit this year. our concern at the moment is not a competitive one. costs are well under control. unit costs are down 6% this year. it's more of what's going to happen some extraneous event. >> extraneous events aside, you have very clearly documented to jeff and i, we have been talking to you for a decade, this industry keeps shooting itself in the foot. too much capacity. when the times are good that's a couple of cycles ago you were e bemoaning it then. >> what's different this time around is that capacity has been reasonably disciplined in europe. most of the orders have been going to places like asia, russia, latin america. sometimes it screws up and they find their way back into europe. at the moment, we've ordered more aircraft than anybody else. we expect to double in size over the next eight to ten years. off a cost base that's significantly lower than every other airline, we've hedged our dol

stephen: ryanair's michael o'leary has promised more competition with easyjet on your route. are you worried about that at all? ms. mccall: we are used to competition. we have started competing with airlines that nobody thought easyjet could come up against. we have competed successfully. actually, we thrive on competition. pioneering, energetic spirit, and it is very powerful when you are in this hanger. we will compete with anybody that we have to compete with. stephen: that is carolyn mccall speaking with me a little earlier on. let's look at what is happening on the market that european shares are trading generally down this lunchtime with some fear about what the federal reserve will do about interest rates in december, causing some concerns of european markets. vodafone one of the big gainers in london. their shares are up by a most 5%. genie: next, new productions about the price of oil. stephen: international energy agency says the price of oil will not stabilize until 2020 at around $80 a barrel. supplyanization expects growth to continue to outstrip demand for years

that was the message from michael o'leary when we spoke to him on the back of bracket bring -- record-breakingults. good news for consumers and bad news for the competition. i hope we get there. cost theoing to decline in fares -- we are growing strongly at the moment. for the next year, extraneous events, your can see strong performance in the summer months , because there is not net growth capacity in europe. we are now up grounding nothing other than what we need for maintenance. we are expanding rapidly in winter. adding 120 routs -- 120 new routes. flyomers now want to ryanair. jonathan: this is kerry line for an. i look at the earnings -- this is kerry lundgren. the numbers are decent. breakdown from it. at researchlooking notes. ryanair is the fastest-growing airline in the world this winter. that income nation with lower prices which also means there is going to be more capacity in the market. that is what is driving down markets -- driving down prices. markets are worried about that. jonathan: it is not great for everyone, isn't it? benefited.ir has they want to take their holiday abr

it was interesting what michael o'leary was saying, he said sometimes people who used to maybe take a morocco or egypt might actually be thinking about traveling closer to home. but these are horrible incidents and hope they don't happen again. manus: thank you very much, kari london. francine: next we give you a preview what to watch the rest of the week. first week of november including bank of england's super thursday and u.s. jobs day. francine: welcome back to "the pulse." streaming on your tablet and phone and also bloomberg.com. manus: it will be a busy week. the first week, trading week of november, u.b.s. reports third quarter earnings tomorrow. 'm off to zurich where we'll speak to sergio. francine: i'm looking forward to the interview. we saw so many banks retrenching here in europe. it's almost a free lunch for the u.s. manus: the question for him, is this your golden opportunity to build on everyone else's dismay or take more for the bankers? you want to keep the key wealth managers. you've got to cough up, sergio? francine: all about bonuses. tuesday we get the inflation

michael o'leary is learning that it comes with rewards.east 500 million dollars richer, with a three .8% stake in ryan and, which had a 5% since the beginning of the week. he raised $1.3 billion fortune in 2015.umped that is the business flash. francine: let's talk about u.s. jobs. report but payrolls the potential of moving the tectonic plates of global rates. that's get back to george magnus, a senior adviser to ubs. we have the payroll figures tomorrow. what we heard from janet yellen, what we heard from sandy fisher, and all points to a fed rate unless september, something huge happens. mr. magnus: have 2 more job reports before the december meeting. the one that we get tomorrow, and the november report. there is a crumbling in either report, i think that is what is coming. francine: at the world is ready? mr. magnus: we don't know that. francine: we should be. mr. magnus: people keep going on , the risks on emerging markets from china, the imf talked at great length about the racing company debt it emerging companies, more and more of