Ryanair scraps plan for transatlantic flights

Ryanair has been forced to do a U-turn on plans to launch a transatlantic service.

The company had to issue a statement to the stock exchange saying the board had not approved flights between Europe and the US, despite an announcement earlier this week which said the move had been given the go ahead.

In a one-line online statement last night, the board confirmed that it had "not considered or approved any transatlantic project and does not intend to do so".

It is understood plans to launch the service remain in the pipeline. However, it would be done using a subsidiary or separate business in which the airline has a majority stake.