Crunch 'good for Ryanair'

THE boss of low-cost airline Ryanair insists the credit crunch is "good for business" and he will reap the benefits of the financial gloom.

Michael O'Leary predicted there will still be customer demand. He said: "They have got to go to weddings or stag parties, they have to go home for Christmas, they need to fly to work," he said.

"In the past, in recessions, people started to trade down and that's exactly what's going to happen in the next few years.

"If you can't make money in this business you'd be a fool."