Ryanair is planning to launch a discount transatlantic airline offering fares as low as £10 a trip.
Boss Michael O'Leary disclosed his plan yesterday as he said the credit crunch and passengers 'trading down' was 'good for business'.
He delivered the upbeat forecast for his company at the London Chamber of Commerce.
He said he may create a sister company to launch a longhaul, low-cost airline, if a wave of bankruptcies mean more cheap aircraft become available next year.
The budget airline's chief executive said:
'The only time to set up an airline is when they are parking planes in the desert.
'We are not very far from that at the moment.'
The new carrier is expected to fly from Stansted and Prestwick to a number of U.S. airports and could be operating within 2 1/2 years.
Tickets may cost as little as £10, but passengers will face additional costs, such as for in-flight meals.
He said the economic outlook was 'great' as the general public 'will never stop' flying.
Mr O'Leary predicted a British airline will fold 'within weeks', two more European airlines will be out of business by the end of the year and the financial gloom is set to last for up to five years.
The budget airline boss said the shake out in the aviation industry will spell good news for Ryanair as more passengers 'trade down' to no-frills airlines like his, adding anyone who could not make money in this economic climate was 'a fool'.
He added: 'If aircraft fleet prices collapse, it is a real possibility.There may be the opportunity to buy a fleet of long-haul aircraft cheaply next year.
Message posted by MartynG on 08 October 2008 at 3:31pm - IP Logged
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Just to throw a cat amoung the pigeons - with the world facing potentialy catastrophic impacts from global warming and climate change - its hard to imagine a more ireesponsible and damaging initiative then virtually zero cost transatlantic air travel. You might was well take a gun to the arctic and shoot polar bears yourself.
What the world needs now is more expensive air travel to reduce demand not cheaper flights.
Message posted by StevenM on 08 October 2008 at 5:58pm - IP Logged
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Sorry David, While I understand your point of view I will not be discouraged from flying. I have a busy and stressful job in IT in financial services (for how long in the current financial climate remains to be seen) and one of the main things that keeps me going looking forward to the annual 2 weeks to chill out in the sun, preferably in Corfu. I’m sure other forum members feel the same.
I do my bit for the environment where I can ( e.g. I use the public transport for work, recycle etc) but I’m afraid I’m going have to rely (or hope for) better efficiency improvements for air travel for this one.
Just my opinion although I assume your point of view is more to do with long haul travel.
Regards
Steven
Message posted by Denis O on 08 October 2008 at 6:32pm - IP Logged
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Quote: Originally posted by DavidJ on 08 October 2008
Just to throw a cat amoung the pigeons - with the world facing potentialy catastrophic impacts from global warming and climate change - its hard to imagine a more ireesponsible and damaging initiative then virtually zero cost transatlantic air travel. You might was well take a gun to the arctic and shoot polar bears yourself.
What the world needs now is more expensive air travel to reduce demand not cheaper flights.
And how do you get to Corfu David? WALK.
Message posted by tackou on 08 October 2008 at 6:33pm - IP Logged
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I agree StevenM also what about those of us who live abroad and have to fly to see family I will help save the planet anyway i can but will always need to fly hope Raynair comes to corfu soon
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