michael o'leary: well, the second half is winter.expecting to grow to 160 million passengers. we will put down pressure on prices because of our own capacity. that we are opening up in the long market, and a lot of primary airports, as well as secondary airports. customers will enjoy remarkable valueg and remarkable from ryanair this year. manus: remarkable pricing and remarkable value, michael. how much could they drop in the second half? could we see double-digit drops, 10% or 15%? could you give us guidance? michael o'leary: yes, i expect it in that area, but we are a long way away from that yet. we will be growing capacity during that second half. we have already announced seven new basis for next winter. i think what is different in europe this year is because competitors benefiting from lower oil prices now, trying to defend market share. they will be unable to because they cannot be ryanair on price. our own expansion means there will be better deals for customers. in bloombergancants has just booked a price with us. -- andery

chief executive michael o'leary spoke to bloomberg earlier about the company's growth prospects, especiallyew of an eu referendum. michael: the u.k. economy is struggling somewhat. there's a lack of confidence. i think a lot of that is driven ,y the old brexit uncertainty it's an overhanging starting in the u.k. economy for the last six months. if there's a strong remain and you can take away that uncertainty, we as a large foreign investor will continue to invest heavily in britain as long as it remains a member of the european union. i think a strong vote on the 23rd of june will help to eliminate that. world istill be -- the an anemic place at the moment, growth is slow in most markets. the u.k. is better positioned than most other large economies, you have a competitive economy, you don't have a confidence problem that you have in many other development nations. the u.k. is poised to grow strongly once the huge uncertainty of the brexit referendum is removed. we see it in our forward-looking's. with interesting about the rest of the summer is forward bookings are running about 2% ahead

we spoke to michael o'leary at ryanair and he was pretty gloomy on pricing.e things into the future? we are seeing trading conditions being quite robust moving forward. what visibility we have on the business, we are confident in our ability to deliver proper resources. as expected, we are seeing the lower fuel prices feeding through into the fed environment. fares are coming down. but it is good news for us because we are growing more than what people would've expected it we're going at a rate beyond 17%. we are seeing some size decline, higher growth of airlines and a better airlines. manus: joseph, good morning. you're going head-to-head or michael o'leary is taking the challenge to your doorstep. how do you make this challenge? is it going to be on price? or expansion head-to-head in those airports where he is. it was the latest. jozsef: we have been competing with ryanair for a long time in different markets. this is not new to us. competition is effective like. it is good to us because it makes us sharper. we are very focused on cost and this is the bas

michael o'leary getting a nice benefit on the pr front from taking sides on the brexit story. recession according to george osborne. exactly one month before the eu referendum, a controversial treasury analysis says thousands would lose their jobs. gdp want plunge by up to 6% over a period of time. our next guest is going to disagree with this. roger bootle joins us from capital economics. he is also the author of a book which i think has been updated. are we heading for a recession if we leave the eu? roger: i am going to disagree with this analysis. guy: i'm shocked. roger: it is a very difficult thing to forecast the future. all economists should know that. we have to be pretty modest. in would be funny if it were not so important, this issue. really, we don't know. there's an enormous range and a positive range. my own guess is that after we left the eu, there would be a period during which not much would happen. continue.fe would then we go into a strange phase where we don't know what is going to turn out, then there will be some effects. but we don't know what those eff

we can ask michael o'leary everything we want on the brexit rishaad:.an,heading finance ministers already meeting, exposing sharp differences on current tree strategy, particularly the difference between what is going on in tokyo in a way that they view the world in the united states. yvonne man was at the talks for us and what happened yet go yvonne: not much appetite really when it came to a global share strategy on how to combat growth. the world's largest developed nations agreed on some things, not going into a currency war. he agreed on some geopolitical risks to the economy when it came to the brexit, terrorism, and refugees. watch appended knock it was a blessing from the g7 nations on what it should do next in terms of the policy levers and they should pull to stoke growth in japan. we saw a lot of tension over the yen among the most developed nations. the finance minister saying, the recent move of the yen has been one-sided, speculative. he did have a bilateral meeting with the u.s. treasury secretary jacob lew with him saying, the notnt move

michael o'leary says higher airfares and vacation costs is not speculation but a certainty..k.newed his call for the to remain in the e.u. earlier today. london says it was cash positive in the first half of the year. it was bailed out last year by shareholders who injected $400 drop into survive a 40% the price of the precious metal since 2011. the company also cut 5400 jobs. greendot will split liberals of chairman and c.e.o. an independent chairman will be named after the annual meeting. they also plan to appoint a director to satisfy the recommendation of the advisory firm. that is your bloomberg business flash update. let's head back to julie hyman for more on some of the big stock movers this morning. julie: a lot of it having to do with him and a activity -- in the day -- m&a activity. connect raising its offer for tribune to $15 a share. tribune shares are rising getting a significant lift. tribune previously rebuffed gun annett's overtures. adopted a poison pill plan to defend against acquisition. gannett shares not much changed. one of the few deals done during the

speaking to "squawk box" earlier michael michael o'leary said this. >> airlines respond by lowering airfares again and traffic begins to rite itself in quick order. but the impact is not there for traffic but on yields and fares. >> joining us now for more analysis is oliver sweep, the european airlines analyst over at barclays. oliver, thank you for joining us this morning. we were just listening to the ceo of runair explaining his view on how this should affect passenger interest on demand going forward. what is your view? very sadly this is not the first terrorist attack, but we don't know what the cause is, but if that's the assumption and passengers are worried on the heel of that, what would be the real impact? >> obviously, we have a number of these incidents that have happened over the last 12 months. we had the brussels attack, paris, the istanbul incident earlier this year and then the german air crash last year. after any of these types of events, you see soft bookings for a couple weeks in general. and the airlines respond in different ways to that. ryanair is going to cut prices

michael o'leary joins us now in our new studio.mmediately appreciated the new digs. you're impressed, aren't you? >> beats hauling my ass to new jersey. >> though you're not saying anything bad about new jersey. >> no. it's just the trek back into new york to continue the road show is a pain. >> exactly. this country, tsa lines, people worried about summer travel. over in europe, i think people are justifiably probably a little bit nervous about the maybe security. so they both start with the same proposition, that you need to make sure that flights are safe. here it's resulting in long lines. over there i bet you saw a few cancelations to go to sucertain places in europe? >> no. when we see the terrorist events in brussels and paris, we respond with lower airfares. the impact is on lower ticket prices. we're expected to lower the prices for 7% for the rest of the summer to keep people flying. it's the best way to deal with terrorism is to prove to the terrorists it won't make any difference. people will still keep going on holiday