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Ryanair Head: Greek Tourism will Rise with Drachma

Michael O'Leary

Ryanair’s chief executive Michael O’Leary says Greece’s tourism earnings will skyrocket if it drops out of the eurozone and reverts to a devalued version of its pre-2002 drachma currency.
O’Leary said Thursday that “inbound tourism would explode down there” because the country would become much cheaper and more attractive to tourists from other parts of Europe.
He also said he was looking at launching a low-cost trans-Atlantic airline in which economy class tickets would cost the equivalent of 10 euros, though baggage and other services would be extra. But he said this wouldn’t be possible for at least 3-4 years because both Airbus and Boeing Co. had huge production backlogs of long-haul aircraft.
“There’s a huge shortage and prices are high,” O’Leary said.
(source: AP)

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