Good news for Ryanair customers after fall in oil prices and intense competition … fares have now fallen by TEN per cent

RYANAIR’S average air fares have fallen ten per cent due to low oil prices and intense competition.

The Dublin-based budget airline said passengers paid just £33.53 per trip in the three months to June 30.

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Although passenger numbers were up 11 per cent over the period, sales rose by just two per cent to £1.42billion.

Punctuality of planes in June fell to 81 per cent from 91 per cent last year due to thunder storms and strikes.

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The company repeated plans to “pivot” growth away from UK airports and focus on hubs in the European Union in the wake of the Brexit vote.

The airline warned it “will cut capacity and frequency on many London Stansted routes” this winter.

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Robin Byde, of CANTOR FITZGERALD, said: “The company is cautious on the impact of Brexit and we expect it to continue to offer discounts through the rest of the year to keep cabins full.

“These results demonstrate the resilience of the Ryanair business model.”