Ryanair: Prices of air tickets will drop from 10% to 15% in the next two years

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Prices of tickets will fall 10% -15% over next 2 years

Prices of tickets will fall 10% -15%  over next 2 years

ECONOMY: The CEO of Ryanair stated in an interview with “JDD” published on Sunday …

Prices of flights offered by Ryanair will go down “from 10% to 15% over at least the next two years,” thanks to the recent fall in oil prices, according to the CEO of the Irish company.

“In 2016 the average ticket should be at 40 euros” against 46 euros now , Michael O’Leary said in an interview with the Journal du Dimanche . “This is the result of the decline in oil prices that we will pass on to customers,” he justified. “We also continue to see the number of passengers we carry increase and also be able to lower our costs.”

The 100 million passengers reached soon

Over  the twelve months ending in late March, Ryanair has seen its traffic grow by 11% to 90.5 million passengers. The company expects to exceed the 100 million annual passengers as of next year and aims to reach 160 million by 2024.

The decrease in fuel consumption and the increase in the number of seats in the newer aircraft, as well as obtaining rates which were “interesting” from the airports “who want to develop”, also help in the cost reductions, noted Michael O’Leary.

“Our aircraft are new”

The policy of low prices is not done at the expense of safety, assured the boss of Ryanair. “We have always been flawless on this subject. The main reason is that are aircraft are new and the average age of the fleet is only 5 years “.

It “grows 10% per year depending on the delivery schedule from Boeing,” said Michael O’Leary. “I also would like to purchase from Airbus but we never managed to agree on prices,” he remarked.

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