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Flying will become more expensive in the coming years, says the Ryanair CEO. The tickets are currently too cheap and that is no longer tenable for the sector, he says.
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Flying has become too cheap, says Michael O’Leary, the boss of low-cost airline Ryanair. It has become too cheap to make a profit because the costs in the sector are skyrocketing.
And that’s why he warns that ticket prices will rise in the next five years. O’Leary said he expects a combination of high oil prices and environmental taxes to increase the average Ryanair fare from €40 (£34) to €50-€60 in the medium term. At least until we can break free from Russian oil and gas.
He told the Financial Times: “It has become too cheap for what it is. I find it absurd that every time I fly into Stansted, the train journey to central London is more expensive than the airfare.”
(sgg)
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