The paper deals with the billiard flow in the exterior of several strictly
convex disjoint domains in the plane with smooth boundaries satisfying an a
dditional (visibility) condition. Using a modification of the technique of
Dolgopyat, we get spectral estimates for the Ruelle operator related to a M
arkov family for the nonwandering (trapping) set of the flow similar to tho
se of Dolgopyat in the case of transitive Anosov flows on compact manifolds
with smooth jointly nonintegrable horocycle foliations. As a consequence,
we get exponential decay of correlation for Holder continuous potentials on
the nonwandering set. Combining the spectral estimate for the Ruelle opera
tor with an argument of Pollicott and Sharp, we also derive the existence o
f a meromorphic continuation of the dynamical zeta function of the billiard
flow to a half-plane Re (s) < h(T) - epsilon, where hT is the topological
entropy of the billiard flow, and an asymptotic formula with an error term
for the number pi(lambda) of closed orbits of least period lambda > 0.