Ryanair chief says package holidays are ‘over’

Michael O’Leary, chief executive of Ryanair has said the package holiday market “is screwed” and “is over” since Thomas Cook went bankrupt.

Speaking to Reuters he hit out at the Civil Aviation Authority (CAA) and accused them in part for the manner that Thomas cook went bust.

Speaking of the CAA O’Leary said, “How you can license Thomas Cook in April as fit to fly for another 12 months and then it goes bust in September. It is something the CAA needs to address.

“The CAA should be much more aggressive in requiring the shareholders of those companies to put up much more cash to get through the year, rather than allowing them to continually fail.”