While British Airways chief executive Willie Walsh might have seemingly sounded the death knoll for cheap air travel by insisting that high fuel prices would necessarily mean higher air fares, Ryanair boss Michael O'Leary has offered backpackers used to travelling on a shoestring some hope by signalling the start of a price war.
In contrast to the rest of the industry, Mr O'Leary has decided that the best way to combat the rising cost of fuel is to reduce prices in a bid to tempt more customers onto his planes.
Indeed, far from issuing tidings of woe Mr O'Leary is confident that the low-fare travel industry will go from strength-to-strength.
"Higher oil prices won't end low-fare air travel, it just increases the attraction of Ryanair's guaranteed lowest fares," he commented.
"Higher oil prices will speed up the decline of high-fare short-haul travel this winter... Ryanair will lead this downward pricing at a time when most of our competitors are hoping to raise fares and fuel surcharges."
With cheap air fares available, backpackers will only need to secure adequate
backpacker travel insurance before departing for foreign fields.
Recent research conducted by moneysupermarket.com found 14 per cent of travellers have never taken out a travel insurance policy - which can be potentially disastrous in the event of an emergency.
