Ryanair increases fares by 12%
Passengers travelling with Ryanair face an eye-watering 12% rise in fare prices this year to make up for soaring fuel costs.
The budget airline pushed prices by the same amount for the year to 31 March and will now make the same increase for this financial year.
Ryanair's chief executive, Michael O'Leary, says higher oil prices will force airlines to continue to hike fares and will lead to further consolidations, increased losses, and more airlines going broke.
Fueling the problem
Piaras Kelly, spokesperson for Ryanair, says along with rising fuel costs, part of the reason fares have shot up is the introduction of longer-haul flights.
Destinations such as Gran Canaria, Kaunas, Lanzarote and Malta bring with them higher running costs and these have been a contributing factor.
Despite this, the airline's profits are up a whopping 26% to €410 (£358) million for the last financial year.
Ryanair is not the only airline to be hiking fares. Easyjet announced a rise in baggage allowance fees earlier this month and British Airways has added an extra £10 onto long-haul flights.
However, Bob Atkinson, spokesperson for travelsupermarket.com, says it is still possible to get a cheap flight from the budget airlines. He praises Ryanair for remaining the cheapest carrier and says although it has high fees, these are clearly laid out on its website.
He advises customers to ignore extra charges, where possible, and try to be flexible with travelling times and book as far in advance as possible. Booking last-minute may not be the cheapest option with a budget airline so always compare prices in this case.
If you've not booked your summer holiday yet, it's worth looking a little further a field for a cheaper destination. Prices are rising with all the airlines but Atkinson says by searching around you can find a good deal.
If you're signed up to an airline's website it will send through offers and deals. Bilbao in Spain or Aarhus in Denmark are discounted locations at present as they are slightly less popular but still offer much cheaper getaways.
"Avoid the mass market destinations by going somewhere weird and wonderful you might not have heard of. You'll save money and get to discover a new destination at the same time," says Atkinson.