If you were hoping for a cut-price shopping spree to New York, we've got some bad news. Reports earlier this week had suggested that Ryanair was planning to operate flights to the US within five years but the cut-price airline has now released a statement announcing that they will not be proceeding with plans for transatlantic flights. "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.” It had earlier been claimed that the board of Ryanair have approved the business plans for future growth, "including transatlantic", with RTÉ reporting that a representative had said "we are talking to manufacturers about long-haul aircraft. European consumers want lower cost travel to the US and the same for Americans coming to Europe. We see it as a logical development in the European market".