Ryanair CEO says airfares set to rise by up to 15%

Ryanair CEO Michael O'Leary said on Wednesday air fares could go up by between 10 and 15% this year, although he added they are unlikely to rise more than 20% as other airlines have predicted.

He said traffic was set to grow 10% this year for the low-cost carrier and the tempo of strong bookings could continue through the summer, driven in part by throngs of American tourists coming to Europe.