Ryanair CEO Vows $100 Round-trip Fares Between U.S. And Europe

(RTTNews) - Michael O'Leary of Ryanair is promising $100 round-trip fares between the United States and Europe.

The CEO of the low cost Irish airline had told the Irish Independent they would be up and running within five years, and the goal would be to fly between 15 major European cities and 15 major U.S. cities.

"We'll need something in the order of 30-50 aircraft," said O'Leary. "We're not interested in doing something small scale."

O'Leary said the fares would be available on a Ryanair new subsidiary and some could cost as low as $10 as an incentive.

"The average price should be somewhere in the mid-€80s or mid-€90s." He said such a low-cost transatlantic airline fare could still make profits but would require cheap long-haul aircraft purchase.

O'Leary also is also looking at expansion to other countries such as Egypt, Turkey, Israel and Russia.