The chief executive told the BBC: "There’s no doubt that at the lower end of the marketplace, our really cheap promotional fares – the €1 fares, the €0.99 fares, even the €9.99 fares – I think you will not see those fares for the next number of years."
He blamed rising jet fuel bills for this, saying Ryanair’s average fares would rise from around €40 last year to €50 by 2027.
O’Leary said he expected consumers to continue to fly despite the cost of living increases but would be much more price sensitive, adding: “therefore my view of life is that people will trade down in their many millions”.
