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Ryanair grounds transatlantic flight hopes

Ryanair grounds transatlantic flight hopes

Ryanair (LON:RYA) has made a U-turn on its US flight plans, just days after announcing ambitious hopes to spread its wings across the Atlantic. 

On Monday, the budget airline said that its board had approved business plans for future growth, including transatlantic routes.

“We are talking to manufacturers about long-haul aircraft,” it said in an emailed statement.

“European consumers want lower-cost travel to the USA and the same for Americans coming to Europe. We see it as a logical development in the European market.”

However, on Thursday evening, the Dublin-based carrier, led by Michael O’Leary, backtracked. 

“The board wishes to clarify that it has not considered or approved any transatlantic project and does not intend to do so.”

British Airways (LON:IAG) and American Airlines dominate the transatlantic routes, among the most profitable in the world.

So far, no airline has managed to run a transatlantic service offering rock-bottom fares.

Ryanair first aired the plans in 2008 and was thought to be looking at low-cost flights between 12 to 14 European cities and the same number of US cities.

Shares in the airline were flat at €10.68.

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Ryanair Timeline

January 05 2015

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