Michael O'Leary, Chief Executive, Ryanair has now eaten back his words and he is ready to comply with the European regulation to reimburse the extra cost to the passengers troubled due to the volcanic ash disruption.

Michael admitting that he "made a mistake" by saying that no frill carrier would be ready to refund extra cost in terms of accommodation and food to the passengers as per European regulation.

The decision came after Ryanair was criticized for not being ready to reimburse complete extra cost. The air carrier was ready to refund the fare only with taxes.

The decision came as a big relief to many passengers who did not expect to get back the money they spent because of flight delays after Ryanair's previous statement.

However, the Chief Executive insisted that the EU regulation was "absurd and discriminatory". He said that while competitor ferry, coach and train operators are obliged only up to the ticket price, the airlines are required to meet the extra costs.

Other carriers, British Airways, BMI, Easyjet and Flybe are also ready to "Fully comply" with the EU regulation.