Ryanair’s chief executive, Michael O’Leary, warned today that the time for flights at 10 euros is over, due to the rise in energy prices, which accelerated with the war in Ukraine.
“I don’t think there will be flights at 10 euros, because oil prices are much higher since Russia invaded Ukraine. […] I don’t think we’re going to see those prices in the next few years,” the Irish airline’s official said in an interview with BBC Radio 4.
Low-cost carriers such as Ryanair or its British competitor Easyjet have revolutionized aviation over the last twenty years, driving down prices and driving a growth in short-haul travel.
According to Michael O’Leary, average ticket fares on Ryanair are expected to increase by around €10 to €50 per journey over the next five years.
The official said, however, that he believes that demand for air travel will continue and that, even with consumers’ budget restrictions, low-cost carriers will “do well”.
In the same interview, O’Leary further protested against Brexit, which has reduced European workers’ access to the UK, where they previously held hundreds of thousands of jobs.
