The rising cost of fuel is among the reasons the boss of Ryanair has given to explain why the cost of its flights will be going up. He's also announced the end of its super-cheap flights adding that the days of the 10 Euro seats are over.
Chief Executive Michael O'Leary added that the average fare on his airline would rise from around 40 Euros last year to roughly 50 euros over the next five years. Speaking to the BBC Radio 4's Today Programme he added that he believes people will continue to fly, however, despite the rising cost of living.
"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," he told.
However, despite the expectation that people will still take to the skies and even search out cheaper flights, Mr O'Leary said the days of the super cheap seats have come to an end. "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 fares - I think you will not see those fares for the next number of years."
The rising cost of fuel for the aircraft is said to be responsible for pushing up ticket prices while the increase in energy bills is among a number of factors accounting for people's disposable income. As hundreds of thousands of people head off on their summer holidays, including thousands from Derbyshire, the travel industry, including airlines like Ryanair, is seeing a very welcome increase in money being spent on holidays further afield.
However, staff shortages at both airlines and airports have forced a number of flight delays and cancellations with pictures from places like Manchester Airport showing long queues at check-in and in security. Mr O'Leary argued that his airline had managed the situation better than most because it had been "part lucky and part brave" in a decision to start recruiting back in November last year, Derby Telegraph reports.
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