Ryanair Chief Executive Michael O'Leary is back in the news, with more thundering declarations. He says he is, again, envisioning serving long-haul routes, of course at ultra-low fares. And his plans are on a grand scale—perhaps as many as 15 transatlantic city pairs flown by 30 or 50 Airbus or Boeing twinjets. Some may wonder whether we should trust him in light of other sweeping pronouncements he has made that never came to fruition. But in this case, we should probably take ...

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