TRAVEL GAZETTE – LOW COST CARRIER Ryanair is to drop its fares by as much as 10 percent in 2016, as oil prices continue to fall.
Chief executive Michael O’Leary also announced that the airline is planning to open a base in Belfast, reported the Irish Independent.
Ryanair’s average fare is currently about €47 one-way. Mr O’Leary says he expects this to fall to about €42 next year.
This is because the company is paying less for its fuel, due to a reduction in oil prices.
The cost of oil has plummeted over the past 12 months and this week sank beneath $40 (€44) a barrel for the first time since the financial crisis.