Ryanair today predicted that only five carriers will survive in Europe.

Speaking at an airline conference in London, deputy chief executive Howard Millar, told the audience that only five European airlines are fit enough to survive the ongoing turmoil in aviation.

He named easyJet and Ryanair as the two low cost carriers that would survive, and a spokesman for the airline confirmed that British Airways, Lufthansa and Air France/KLM were the remaining three.

Speaking to an audience of his industry peers, Millar said there would be further consolidation in the aviation sector. The outcome would be a loss of jobs, plus fewer flights, meaning less choice for travellers.

There was some good news for holidaymakers: Millar said fares would come down. “People are more price sensitive and carriers will struggle to fill their seats unless they reduce fares,” he said.

Ryanair remained unusually gloomy about its expectations for the year. Millar said the carrier hoped to break even, although this is an improvement on its warning in July, that the airline would make a loss this year for the first time since 1989.

Ryanair claims it will break even as long as oil continues to be priced at less than $100 a barrel. Nevertheless, it still plans to ground 14 aircraft this winter at Stansted airport because of high fuel costs.

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