Michael O’Leary would break the no-frills mould and establish a business-class cabin “better than Virgin Atlantic’s” if he goes ahead with establishing a transatlantic carrier after stepping down as Ryanair chief executive.
O’Leary admitted he is already in talks with Boeing about buying a long-haul fleet. But he said prices are too high because the aircraft manufacturers’ order books are full.
“If there is a downturn in the industry we could acquire a fleet of long-haul aircraft and offer $10 fares,” said O’Leary.
“I am talking to Boeing. I could get it off the ground. We are inundated with airports that want us to do it. But it is too early – there are not cheap long-haul aircraft available.
“We would operate from six to eight points in Europe and six to eight in the US. But I would have to be gone from Ryanair or it would be a distraction. The ruthless, cost discipline would be dissipated. No one has ever run a successful short-haul operation with successful long-haul. It just does not work.”
He said: “Fares would have to be cheap in economy, but it would have a good business class – better than Virgin Atlantic.”