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Is the era of low-cost airlines over?

Is the era of low-cost airlines over?

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Ryanair’s chief executive Michael O’Leary has warned that the era of ultra-low fares is over and blamed Brexit in part for airport staff shortages that caused chaos during the peak holiday season.

The company’s boss said high oil prices meant it could not continue to offer promotional tickets for less than €10 (£8.50). He also said Ryanair’s average fare would rise from around €40 to €50 over the next five years.

O’Leary told BBC Radio 4’s Today program that he did not think flights would cost €10 anymore because oil prices were so high as a result of the Russian invasion of Ukraine.

O’Leary has called on politicians across the UK and the EU to re-target inflation to 2% or “people’s incomes and wealth will be hit hard”.

UK inflation is at 9.4% and is expected to rise to 13.3% – its highest level since 1980 – by October, according to the Bank of England’s latest forecast.

The airline boss criticized the impact of Brexit on airlines and airports across the country, with staff shortages resulting in passengers experiencing travel chaos including long queues, canceled flights and misplaced luggage.

O’Leary blamed outgoing Prime Minister Boris Johnson, “and other ambitious idiots”, for creating the situation in which the UK has been mired in a labor crisis since leaving the EU.

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