With the surge in energy prices, accelerated by the war in Ukraine, the era of air tickets sold off for 10 euros or less is over, warns Ryanair chief Michael O’Leary.
“I think there will be no more ten euro bills because oil prices are much higher since Russia invaded Ukraine.
Our promotions are really cheap but I think we won’t see these rates for many years, ”he told BBC Radio 4.
According to O’Leary, average ticket fares on Ryanair’s website are expected to increase by around € 10, to around € 50 each way over the next 5 years.
Which, given the low-cost fare structure with many surcharges, especially for luggage, could quickly increase the total cost of a round trip up to several hundred euros or pounds.
O’Leary, however, hopes that the demand for air travel will continue and that in the face of consumer budget constraints, low-cost carriers will fare well.
Ryanair’s number one also protested against Brexit, which significantly reduced European workers’ access to the UK, where they previously had hundreds of thousands of jobs.
“If there was honesty on the part of the Johnson government, it would admit that Brexit was a disaster for the free movement of workers and that one of the main difficulties facing the British economy right now is the lack of workers.”