EX-RYANAIR BOSS SAYS LOW COST TRAVEL IS OVER

Tim Jeans, former commercial director of Ryanair director has declared that the era of low cost travel is over. Fuel costs and increased Air Passenger Duty and the Emissions Trading Scheme, have all been blamed for impacting on airline profits. Jeans said: “The only thing that can happen is fares will go up and passengers go down. The vicious circle of decline in our industry will start.” Jeans’ comments come as BA and Iberia passengers have been warned they may have to pay higher fuel surcharges as a result of the civil unrest in north Africa and the Middle East.