Ryanair fares could drop by around 10-15 per cent over the next couple of years, according to CEO Michael O’Leary.
The head of the Irish carrier told French newspaper Le Journal Du Dimanche that savings made due to the decline in oil prices will be passed onto passengers.
In the interview, O’Leary said: “Absolutely, [average fares could fall] by at least 10-15 per cent 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. We will also continue to grow passenger numbers and cut our costs.”
His comments follow an opposite statement from IAG CEO Willie Walsh last month, who warned passengers not to expect lower fares because the decline in oil prices will be “short-lived” and some of the benefit must go to shareholders.