Ryanair is well-known for its low-price flash sales, but CEO Michael O'Leary says super cheap flights are unsustainable in the current climate.
The CEO of Ryanair, Europe's biggest airline by passenger numbers, says the era of super cheap air travel is over.
"I don't think there are going to be 10 euro [$10.33] flights anymore because oil prices are significantly higher as a result of the Russian invasion of Ukraine," Michael O'Leary told BBC Radio 4's Today program on Thursday.
Ryanair's average fare was 40 euros last year, equivalent to about £34, but O'Leary said that will now need to increase.
"We think that 40 euros needs to edge up towards maybe 50 euros over the next five years. So the £35 average fare in the U.K. will rise to maybe £42 or £43," he said.
Ryanair is known for its low-price flash sales, but these prices are now thought to be unsustainable in the current climate, according to O'Leary.
"There's no doubt that at the lower end of the marketplace, our really cheap promotional fares, the one euro fares, the 99 cent fares, even the 9.99 fares, I think you will not see those fares for the next number of years."
Ryanair is not planning on hiking prices across its offerings, however.
"Ryanair will still have millions of seats available at 19.99, 24.99 and 29.99," O'Leary said. "Now that will still be a fraction of the high fares that BA and our other competitors are charging."