Ryanair's €10 transatlantic flights would boost us property, say agents

The low-cost airline told the Irish Hotels Federation confidence recently that flights to New York and Boston would be priced at just €10 for a seat, although extras, such as meals and baggage, would cost extra. The flights would connect up to 14 European cities to a similar number of destinations across the Atlantic.

“We can make money on 99 cent fares in Europe,” Mr O’Leary said. “Not every seat will be €10 of course, there will also need to be a very high number of business or premium seats.”

Gary Kenny, Chief Executive Officer of Florida-based developer Feltrim and Colin Murphy, told OPP Connect that it could "only help our property market".

“The $14 dollar flights to the US would have a very positive impact on the Florida market as that is where the vast majority of Brits end up purchasing USA property. It could also give a huge tourist boost on both sides of the Atlantic as passengers take advantage of cheap fares to visit tourist meccas like London or New York.

“Sticking with the real estate though, I think it would mostly be one-way traffic, as Americans are not big fans of British, Spanish or Italian property. They tend to stick a lot closer to home."

Ryanair CEO Michael O’Leary admitted, though, that it could be a long wait, with the airline needing to purchase enough long-haul craft to start the service. That could take up to five years, he said.