Ryanair boss says plane tickets are too CHEAP and warns flight prices will rise for the next five years
PLANE tickets are too cheap and will rise over the next five years, Ryanair’s boss said.
Costs will keep going up to match soaring fuel prices and environment charges, Michael O’Leary added.
Fares rose by 18 per cent in April, a US study found, which was the biggest increase in 59 years.
Mr O’Leary, who took credit for low-cost flying with Ryanair, told the Financial Times: “It’s too cheap for what it is.
“I find it absurd every time that I fly to Stansted, the train journey into central London is more expensive than the air fare.
“It has been my doing [taking prices so low]. I made a lot of money doing it.
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“But ultimately, I don’t believe air travel is sustainable over the medium term at an average fare of €40 (£34).
“It’s too cheap at that. But I think, you know, it will still be very cheap and affordable at €50 and €60.”
One Ryanair flight from London Stansted to Milan Bergamo, Italy, in September was on sale for £9.99 last night.
A return flight a fortnight later at 6am was the same price, taking the total cost to £19.98.
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It comes after Mr O’Leary said said in April that the era of the cheap flight “is not coming to an end”.
He told Ireland’s broadcaster RTE at the time that the country needed low-cost air travel for its tourism industry.
But some airlines and airports are struggling to meet increased demand following rising costs and job cuts.
Passengers at Heathrow airport last week suffered long queues, cancelled flights and lost baggage.
Work and Pensions Secretary Therese Coffey today told Sky News: “Airports and airlines released a lot of people after the furlough scheme had come to an end.
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“Perhaps they did not anticipate the desire for people to get out of the country.
“It matters that airlines have confidence flights can be delivered and passengers know well in advance if their flights is cancelled. “