Ryanair makes first ever loss
Updated on 02 June 2009
Krishnan Guru-Murthy speaks to Ryanair boss Michael O'Leary about what went wrong, and where the future lies for budget travel in a recession.
Low-cost airline Ryanair has made a loss for the first time in its history. It blames high fuel costs and a fall in the value of its stake in Aer Lingus.
Last year the airline made a profit of nearly 400m Euros, but in the year to March it plummeted into the red by a 170m Euros.
Krishnan Guru-Murthy interviewed Michael O'Leary, Ryanair's chief executive, about what lies ahead for budget travellers and if they will really need to "spend a pound to spend a penny".
