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”.
He added he was hopeful problems at UK airports would be resolved by next summer, but said Brexit would continue to create recruitment issues, calling on the UK government “to be honest and own up” that it had caused labour shortages.
