Ryanair Hates Brexit Plan

(RTTNews) - Budget airline Ryanair's (RYA.L, RYAAY) CEO Michael O'Leary is advocating for Britain to stay in the European Union.

O'Leary has warned that the Irish Airline will cut investment in Britain and might increase flight prices if Britain leaves the EU bloc.

Prime Minister David Cameron has set June 23 as the date of the referendum to determine if Britain remains a member of the European Union.

However, if "Brexit-- Britain's exit from the EU-- happens then Ryanair will invest more in European countries such as Poland and the Czech Republic, O'Leary said.

Ryanair Cheif said the carrier will actively campaign for Britain to stay in the EU by running newspaper ads that promote EU membership and also posting pro-EU slogans on Ryanair planes.

"We'll be getting involved in the debate and trying to influence people to vote in favor of Europe because the UK economy and UK jobs are better off in Europe," O'Leary said.

More than 35 million passengers per year use Ryanair flights to travel between the U.K. and Europe. Ryanair expects 20 percent of its passengers to depart from London airports this year.