Michael O’Leary, CEO of Ryanair, one of the leading airline companies in Europe, stated that the era of cheap air travel is over and it will not be possible to find plane tickets in the 1-10 euro band in the coming years.
Speaking to BBC Radio 4, Michael O’Leary announced that it will not be possible for many years to see the airline tickets, which have become one of the symbols of the company, at the price of 1-10 euro.
According to AirportHaber; O’Leary said that they plan to increase ticket prices by an average of 10 Euros in the next 5 years, which are seriously affected by the world’s energy crisis and oil prices. It will have to increase to 50 euros in five years,” he said.
Michael O’Leary continued his speech as follows:
“There is no doubt that you will not see our promotional prices in the 0.99-9.99 euro range, which is the cheapest on the market, in the coming years. We think people will continue to fly frequently. But I think people will become much more price sensitive.”
Following the easing of coronavirus restrictions, in July last year Ryanair launched a £5 one-way ticket campaign from the UK to European destinations including Athens, Lisbon, Faro, Madrid, Seville and Dublin.
According to the British media; The cheapest flights to the cities in question today became much higher today, after 1 year. A one-way flight from London to Lisbon now costs £130, Athens £189, Madrid £130, Dublin £149.
According to experts, this increase in ticket prices is due to a combination of extremely high inflation and the increase in demand since the end of lockdown restrictions. Long-haul flights during shutdowns, rising costs, and the impact of layoffs in the aviation industry have caused some airline companies to struggle to keep up with demand.