Shares of low-cost airline Ryanair (RYAAY, RYA.IR) are jumping after CEO Michael O'Leary indicated that the decline in summer airfares wouldn't be as sharp as they thought. O'Leary told Reuters that he thinks fare weakness has "leveled out," with decreases of about 5%, not the 10% that had been initially feared.

Morning Brief anchors Brad Smith and Madison Mills discuss the comments in the video above.

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This post was written by Stephanie Mikulich.