The CEO of budget European airline Ryanair has suggested that the days of ultra-low airfares are gone, at least for the foreseeable future.
The airline, which is famous for having plugging flights as low as $12, is anticipating rates to go up to an average of around $51 in the next few years, with energy prices and inflation driving the rise.
However, CEO Michael O’Leary believes passengers will flood the carrier as inflation grows, choosing to drop to a no-frills flying experience instead of forgoing flying altogether. Most budget airlines charge for a cheap basic ticket, with the price increasing as passengers add extras like seat selection, checked bags, and even carry-on luggage.
Of course, budget short-haul flights are in the firing line of environmentalists, with politicians putting pressure on many airlines to cut shorter routes and encourage passengers to travel by road or rail in an attempt to cut emissions.