Ryanair CEO Expects To Quit In 2-3 Years

November 29, 2009

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Michael O'Leary expects to retire as chief executive of Irish airline Ryanair in two to three years' time, he said on Saturday.

O'Leary has pushed out the projected date of his retirement from the helm of Europe's biggest budget carrier several times, saying last year it had become a "moveable feast".

"In two or three years' time I expect to be gone out of Ryanair," O'Leary told RTE radio, adding he would like to see the takeover of Irish rival Aer Lingus -- which he has twice tried and failed to achieve -- before he goes.

O'Leary said earlier this month he was planning to pay substantial management bonuses in 2011 when a large capital investment programme approaches its end and possibly also end his policy of not paying any dividends around the same time.