This is what Ryanair CEO Michael O'Leary said in a comment after the company's interim report, according to Bloomberg News.

According to Michael O'Leary, it will be a "grim" winter for airlines, with a combination of rising oil prices, falling ticket prices and overcapacity in Europe.

”"We're seeing a winter of falling prices. You're going to see bankruptcies this winter, as we enter what is going to be a four- to five-year downturn for the industry," Michael O'Leary told CNBC.

As for Norwegian, the Ryanair CEO has predicted bankruptcy several times before, most recently just a month ago. For SAS, however, according to Danish Ritzau, this is likely the first time Michael O'Leary has publicly predicted imminent bankruptcy.

Source:nyhetsbyrån-di.se