Travelers in Europe will have to pay more for their airline tickets as Ryanair is expected to increase fares by 12 percent.
In addition to the rise in Air Passenger Duty starting November, this message of rise in Ryanair fare comes from Michael O’Leary, the airline’s chief executive. In late March this year, Ryanair had announced increase in fees.
Mr O’Leary announced the price increases as he unveiled Ryanair’s latest results.
“Significantly higher revenues were largely offset by higher operating costs as fuel rose 49 percent,” he said.
“We are passing on those higher prices to consumers with a slight increase in fares, however fares are still lower than they were in 2007.”
More airlines have increased the airfares since the last year citing reasons as increase prices of fuel. EasyJet has also predicted more fare rises unless the price of oil eases.
Earlier this year industry figures showed that while business executives were returning to the skies, demand was weaker among holidaymakers. Analysts believe that this was because cash-strapped families were cutting back on their spending just as soaring oil prices started pushing up the cost of flying.