Ryanair joins in Brexit brouhaha, calls for UK to stay in EU as it targets 10 per cent London growth
Ryanair has added its voice to the Brexit braying, warning that an exit would be worse than the status quo and would leave the UK with similar cost levels and red tape.
The low budget Irish airline has consistently said that an EU exit would be bad for Britain and its business.
Chief executive Michael O'Leary said:
Leaving Europe won't save the UK money or red tape because like Norway the UK will still have to contribute to Europe, and obey its rules if it wants to continue to trade freely with Europe. We're going to bore everyone to death with this message over the next four months. A Brexit on its own won't cause airfares to rise, but it is more likely the economy of the UK will be damaged and negotiating better tax rates will be more challenging.
The airline will run ads in newspapers as well as on its own website over the course of the campaign. It's also considering pushing the message onboard its flights and to its marketing email database.
A weaker sterling, which has today fallen under $1.40 for the first time in seven years on Brexit fears, is according to Ryanair, only marginally negative for the airline.
Ryanair has however called for reforms in the EU, including a reduction of bureaucracy.
Last night Costa Coffee owner Whitbread called for the UK to remain in the EU, citing potential damage to consumer confidence.
Ryanair made the announcement alongside its latest growth plans in Europe which show it's aiming for a 10 per cent increase in London traffic over the next year with new routes over the winter.