Barely five more years.

Ryanair's controversial CEO Michael O'Leary says he is not prepared to renew his CEO contract for more than two to three years, on a rolling twelve-month basis.

He is 57 years old and has been CEO since 1994. His current five-year contract expires in a year.

The statement was made, according to Reuters, in connection with the airline's general meeting in Gormanston, thirty miles north of Dublin, from which journalists had initially been excluded, but where the owners changed their minds at the last minute. O'Leary took the opportunity to slam competitor Norwegian, which he claims will have to throw in the towel, "it's just a question of when".

Norwegian was not slow to respond: "it's the same old story that has been going on for years and has no basis in reality," Reuters reports.

Regarding the strike threat looming over Ryanair, O'Leary says it is unlikely to help keep ticket prices down. The Belgian pilots' union has threatened to strike on September 28 unless management improves the offer to employees.

Source: TT