Ryanair boss: 10 euros disappear due to rising fuel prices

The low-cost airline boss said the Ryanair brand will no longer appear for one-euro and 10-euro fares for a “number of years” due to soaring fuel prices.

In an interview with BBC Radio 4’s Today programme, Michael O’Leary said he expected Ryanair’s average fare to increase by around 10 euros over the next five years, from around 40 euros (£33.75 UK) last year to around 50 euros by 2027.

He told the broadcaster: “There is no doubt that at the lower end of the market our promotional fares are really cheap – one euro fare, 0.99 euro fare, even 9.99 euro fare – I think you won’t see those fare for the next number of years. “

Although soaring fuel prices are affecting airline fares and are wreaking havoc on people’s disposable income, Mr. O’Leary is confident the customer base will remain stable.

Instead, he believes travelers will flock to a slew of lower-cost alternatives like Ryanair and EasyJet.

“We think people will continue to fly regularly,” he said.

“But I think people are going to become more price-sensitive and so my view on life is that people will trade their millions.”