Last Update: 2:48 AM ET Jun 20, 2006

LONDON (MarketWatch) -- Low cost airline Ryanair`s (RYAAY : ryanair hldgs plc sponsored adr

RYAAY51.67, -0.92, -1.7%) (UK:RYA : ryanair hldgs ord eur0.0127

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Last: 7.06-0.09-1.33%

UK:RYA7.06, -0.09, -1.3%) outspoken chief executive Michael O`Leary plans to retire in 2008, according to an interview with O`Leary in the Times (of London) newspaper. The newspaper quotes O`Leary as saying the company will need a ``more professional`` leader ``when we`re the biggest airline in Europe.`` Ryanair recently said it is on track to double its profit and passenger numbers by 2012