“I don't think there will be flights at ten euros, because oil prices are much higher since Russia invaded Ukraine. […] I don't think we're going to see those prices in the next few years," the Irish airline's official said in an interview with BBC Radio 4.

Low-cost carriers such as Ryanair or its British competitor easyJet have revolutionised aviation over the last twenty years, driving down prices and fuelling growth in short-haul travel.

According to Michael O'Leary, average ticket fares on Ryanair are expected to increase by around €10 to €50 per journey over the next five years.

The official said, however, that he believes that demand for air travel will continue and that, even with consumers' budget restrictions, low-cost carriers will "do well".

In the same interview, O'Leary also protested against Brexit (the process of leaving the United Kingdom from the European Union), which has reduced the access of European workers to the United Kingdom, where they previously held hundreds of thousands of jobs.