Ryanair Expects to Cut Fares by 10-15%
Ryanair boss Michael O'Leary has vowed top lower fare prices by up to 15 per cent, as fuel prices continue to drop.
Speaking to French newspaper Le Journal Du Dimanche, O'Leary indicated that Ryanair would pass on the benefits of lower fuel prices to customers by lowering prices.
"Absolutely, by at least 10pc-15pc over the next two years. In 2016 our average air fare could be at €40," he said. The current average price of a fare is €46, according to the Irish Independent.
"This will come as we pass on lower oil prices. We will also continue to grow passenger numbers and cut our costs."
Fare prices were just one of a number of topics O'Leary touched on in the interview with the newspaper, including a hint at his feelings on the proposed IAG takeover of Aer Lingus.
He mentioned that KLM, a smaller player in the European market, had suffered as result of its merger with Air France, going on to suggest that Air France should sell the airline.
Ryanair, which owns a majority 29 per cent stake in Aer Lingus, has remained quiet on the proceedings. The airline was recently ordered by the competition regulator to sell its stake in Aer Lingus down to five per cent.