Ryanair may go for first fare hike in four years: reports

Ryanair reportedly plans to increase fares for the first time in four years, to sustain earnings growth as the carrier slows its expansion plans.

Ryanair chief executive Michael O’Leary has indicated that the airlines’ average fares could rise from the beginning of its next financial year on April 1st, reported Irishtimes.com.

According to Dow Jones, O’Leary said average fares will be flat across Europe in 2010, but Irish fares will rise 10 percent. 

“We’ve just come through a year where fares have fallen 20 percent,” O’Leary said. “The fares out of Dublin will be significantly higher this year.”

While O’Leary expects total passenger numbers to rise by 7 million to 73 million this year, traffic at Dublin Airport will fall to 18 million passengers from 20 million in 2010.