Ryanair could raise fares next year following a year of “financially weak airlines like Thomas Cook” going bust.

Customers of the Irish airline face having to fork out more for their boarding passes as the company claim they no longer have to “drop fares to sell seats.”

Ryanair is known for its budget friendly deals but that could all change because they have “less competition.”

It said a hike may occur as a result of two things - weaker airlines going bust and the wait for 200 re-certified Boeing 737 MAX death planes.

Ryanair attributed their budget friendly price point the last few years to “over capacity

Ryanair attributed their budget friendly price point during the last few years to “over capacity” in Europe and claimed they had to "drop fares to sell seats."

But following the collapse of British Travel Group Thomas Cook, Ryanair said it has "less competition" so "fares could go up."

A Ryanair spokesman told Daily Star Online said: "Fares were low in the last few years because there were more seats than people - so there was an over capacity in Europe.

"We had to drop the fares to sell the seats - but the moment we have less capacity, fares could go up.

"If you have less capacity - you have less competition.

"There are two things that could make fares go up next year, smaller airlines going bust, financially weak airlines, like Thomas Cook, that are unable to survive - and because we don't have the MAX certified yet."

The liquidation resulted in job losses for 21,000 employees worldwide

Frances XL Airways, Slovenian owned Adria Airway and Paris based Aigle Azur all ceased operation within a month of each other.

As well as this, 178-year-old Brit high street staple Thomas Cook also ceased operation.

The liquidation resulted in job losses for 21,000 employees worldwide and holiday mayhem for 600,000 customers.