Want to Fly Cheap in 2016? This European Airline is Dropping Fares by 7%

By: Jon Corrigan

Planning a trip to Europe and want to fly cheap? Budget airline Ryanair, amid record profits and passenger numbers, is expected to drop ticket fares by 7% this year.

The Dublin-based airline saw net profit gains of 43% last year (US $1.4 billion) and percentage of seats sold rose to 93%.

Ryanair Chief Executive Michael O’Leary says ticket prices will decrease 6% this summer and even more in the winter. The reason? O’Leary cites increased competition and well-hedged fuel costs.

“If there is a fare war in Europe, then Ryanair will be the winner,” O’Leary said. “If other airlines want to compete with us on price, then we will lower our prices again.”

More from Jon Corrigan

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