Ryanair Chief Executive, Michael O'Leary, expects that the profits of the company will halve this year. Owing to this, the airline has decided to freeze pay for top executives since the management is keen to avoid increasing ticket prices to compensate high fuel costs. Earlier in the month of February, the airline warned of high oil prices, a faltering UK economy and weakening of sterling, which might half its profits during the business year commencing in April. However, though some charges may rise, the airline does not want to directly increase the Ryanair fares.

Addressing a press conference, Mr. O'Leary remarked, "Our guidance remains the same from our last. We will update this in June at our results but I expect a 50 percent drop in profits in the next 12 months. I just don't expect our fares to rise. I think our fares will be flat and that will be a good result I think."

He too added, "We are renegotiating airport contracts, handling contracts, maintenance contracts ... we want to reduce costs in every single area of the operation. Baggage fees and credit-card charges will go up. Partly to reduce costs but more importantly to encourage passengers to take hand luggage and reduce our check-in costs. We will move to kiosks very soon."

Ryanair is highly hopeful of achieving €400 million (£315 million) through savings during the next 12 months through several cost-cutting measures like an indefinite management pay freeze expected to recoup up to €10 million.