Business

Ryanair boss Michael O'Leary warns of Brexit impact on investment

Ryanair chief executive Michael O'Leary
Ryanair chief executive Michael O'Leary Ryanair chief executive Michael O'Leary

RYANAIR boss Michael O'Leary has warned that the budget airline will be forced to scale back UK investment if Britain votes to leave the European Union.

He said that inward investment will be lost to competitor EU member states such as Ireland and Germany if Britain votes for Brexit.

He also announced the creation of 450 new jobs in Britain as part of a $1.4 billion (£976 million) investment into the Ryanair's 13 UK bases.

Mr O'Leary said: "It is this type of large-scale foreign inward investment that is helping to drive the UK economy and job creation.

"It is exactly this type of investment that will be lost to other competitor EU members if the UK votes to leave the European Union."

He also urged the British public to vote to Remain on June 23.

Mr O'Leary said: "The single market has enabled Ryanair to lead the low-fare air travel revolution in Europe, as we bring millions of British citizens to Europe each year, and welcome millions of European visitors to Britain, and we are calling on everyone to turn out in large numbers and vote Remain," he said.

He was speaking at the opening of Ryanair's European Training Centre at Stansted, which will create more than 1,000 new jobs overall for pilots, cabin crew and engineers this year.