'Brexit' won't end low-cost flights

The European Union made the budget airline revolution possible. Ryanair and Easyjet are both children of the EU and both therefore, perhaps unsurprisingly, want Britain to remain.

Importantly though they disagree about the potential impact of Brexit.

Dame Carolyn McCall, the boss of Easyjet, has previously warned that a vote to leave the EU is likely to push up the price of airline tickets. The chief executive of Ryanair, which carries 105 million passengers a year disagrees.

"I don't believe leaving the EU will cause airfares to rise", Michael O'Leary told me at a press conference in London.

Now, to be clear, Ryanair convened this press conference to make clear that it believes Brexit would have a material impact on the way Ryanair does business.

The airline signed that letter to the Times and believes staying in the EU would be "better for jobs, better for economic growth and better for investment". If Britian leaves, Michael O'Leary says he's less likely to invest in Britain and locate jobs here.

O'Leary is clearly of the view that there are compelling reasons for Britain to vote to stay in - a fear that it will suddenly become more expensive to fly isn't one of them.