Ryanair chief executive Mr Michael O'Leary said yesterday he expected average loadings at the no-frills airline to start increasing year-on-year from April onwards.

The monthly load factor, indicating the proportion of seats filled, slipped to 83 per cent of capacity in December 2003 from 85 per cent in December 2002, the airline said earlier in the week.

A Ryanair spokesman told Reuters that as of April, when the distortion caused by the Buzz takeover ceased to apply, there would be 20 per cent year-on-year capacity growth

"I expect the next couple of months' load factors to be two or three percentage points below the previous year's... then in April load factors will be up against previous years," Mr O'Leary told reporters on the fringes of a meeting of regional airport operators.

Ryanair, Europe's biggest airline by market value, has been expanding rapidly, adding routes and bases throughout Europe and eating into the market share of the full-service airlines through its discounted fares strategy.

Mr O'Leary also expressed concern about the increased security costs for the airline industry, including US plans for armed "air marshals" on transatlantic flights.

"You've got to have some balance. Air marshals are a complete waste of time. I can't think of anything that would reduce security more than having a guy on board with a gun," Mr O'Leary said.

Ryanair operates solely in Europe.- (Reuters)