herald

Friday 30 September 2016

Ryanair to cut fares as oil falls

aviation

Ryanair expects to cut its fares by between 10pc and 15pc over the next two years as the benefits of lower oil prices are passed on to consumers, Michael O'Leary has said.

Asked by French newspaper Le Journal Du Dimanche whether prices could fall from current levels, the Ryanair chief executive said: "Absolutely, by at least 10pc to 15pc over the next two years. In 2016 our average air fare could be at €40.

"This will come as we pass on lower oil prices."

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