Ryanair board says it did not approve any transatlantic project

Ryanair’s board has said that it has not considered or approved any transatlantic project and does not intend to do so.

The announcement follows reports that the board did approve plans for future growth at Ryanair, including a transatlantic service.

In a statement issued to the markets on Thursday, the airline's board said: "In the light of recent press coverage, the board of Ryanair Holdings plc wishes to clarify that it has not considered or approved any transatlantic project and does not intend to do so".

Earlier this week the airline said that it had spoken to manufacturers about buying long-haul craft and was looking at the possibility of flying between 12 to 14 European and US cities.

The airline has been saying for several years that it has been looking at plans to launch a low-cost transatlantic service through a separate company, which it argues is a logical extension of its existing European business.

However, it has pointed out the launch of this business depends on the availability of suitable craft.