Ryanair boss Michael O'Leary said that the average cost of a Ryanair flight will be €25 in the future, after the carrier reduces its fuel costs.
According to the Irish Times, this will be made possible by the introduction of its new fleet of 200 Boeing 737s, which O'Leary called a "game changer".
The planes - due to come into circulation between 2019 and 2023 - will reduce fuel consumption per passenger by up to 19 per cent, while increasing the amount of passengers on board by eight.
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O'Leary said the airline was looking for "creative ways" to reduce fuel costs, which represent around 45 per cent of the carrier's costs. “If we can reduce that by a double digit number it means that we are again getting closer and closer to my idea where ultimately we can lower our average fares from €45 to €25,” he said.
O'Leary predicted the airline will overtake Easyjet as the largest carrier in the UK by the end of 2016. It is also planning to be the second biggest in Germany within a similar timeframe.