Michael O’Leary warned airfares would rise for the next five years because flying has become ‘too cheap’
Michael O’Leary, the Ryanair boss and pioneer of low-cost travel in Europe, has said airfares are likely to rise for the next five years because flying has become “too cheap” to make profits as industry costs spiral.
His warning came as ticket prices rose across Europe and the US as passengers returned after coronavirus lockdowns and some airlines cut capacity because of staff shortages.