Ryanair announces reduced fares

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Ryanair announces reduced fares

Passengers hoping to fly on Ryanair in Europe this winter can expect dramatically cheaper fares.

The carrier has revealed that winter prices are to be cut.

“We are looking at a year where as far as we can see air fares will keep falling. We are looking at extraordinary fare declines,” company boss Michael O’Leary told Bloomberg TV.

The average fare dropped 10% already in the six months to the end of September.

Now the airline is predicting that fares could be reduced yet further by as much as 13 to 15% to the end of March 2017.

Ryanair said ticket prices had been brought down in reaction to increased competition from its rivals. It had been helped by lower fuel prices.

O’Leary said that the carrier would aim to fill seats at whatever price it could in order to gain market share.

Company profits were up by 6% in the first six months of 2016, reaching €1.31 billion.

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