Ryanair boss issues grim warning to Brits over foreign holidays | The Sun08/11/2022
RYANAIR has warned that cheap promotional flight prices are a thing of the past, amid soaring travel costs.
The airline's boss Michael O'Leary said that he expects the average price of their flights to rise by €10 (£8.45) over the next five years.
That would take the average cost of a Ryanair flight from €40 (£33.79) to €50 (£42.24) by 2027.
Speaking to BBC4's Today Programme, O'Leary said heavily discounted flights would not be available for a while due to rising fuel prices.
He said: “There’s no doubt that at the lower end of the marketplace, our really cheap promotional fares – the one euro fares, the €0.99 fares, even the €9.99 euro fares – I think you will not see those fares for the next number of years.”
Despite rising costs, O'Leary isn't expecting a decrease in demand for flights overall.
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However, he said that passengers from more expensive airlines will begin to book with budget carriers instead, as they look to hold onto their money.
He continued: "We think people will continue to fly frequently.
“But I think people are going to become much more price sensitive and therefore my view of life is that people will trade down in their many millions.”
Last month, Willie Walsh, director general of the International Air Transport Association, told BBC's Sunday Morning why flight prices are soaring this year.
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He said: "Flights are getting more expensive because of the high price of oil and it has been clear to everybody that will be reflected in higher ticket prices.
"Flying will be more expensive for consumers, without doubt.
"Oil is the single biggest element of an airlines' cost base. It is inevitable that ultimately the high oil prices will be passed through to consumers."
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Car hire, accommodation and travel insurance prices have all rocketed this summer.
There are ways to keep flight costs down this summer, with the time a holiday is booked affecting prices.
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