The CEO of the Irish low-cost carrier Ryanair, Michael O’Leary, has warned that flight prices will increase in the next five years, reports the Financial Times. According to him, flights are too cheap to make a profit for companies amid rising industry costs; sometimes, train tickets are more expensive than flight tickets. He expects the combination of high oil prices and environmental charges to lift Ryanair’s average fare from €40 to €50-60 in the medium term. O’Leary also criticized the British government and Brexit, calling it a “catastrophe” that has left airlines unable to easily hire European workers, which industry officials say has exacerbated staff shortages this year.
In the next five years, flight prices will increase.
In the next five years, flight prices will increase.