The board of Ryanair has approved plans to launch transatlantic flights, as part of its five-year growth strategy outlined by the airline. The low-cost carrier said it was already in talks with manufacturers about purchasing long-haul aircraft but couldn’t comment further.

“European consumers want lower-cost travel to the USA and the same for Americans coming to Europe. We see it as a logical development in the European market,” the airline said.

Chicago, Boston, New York, London, Berlin and Dublin are understood to be among the cities included in the plan, which could come into operation in four or five years time if the airline can reach a deal to buy long-haul aircraft – most likely with Airbus or Boeing.

The Irish low-fare airline’s CEO, Michael O’Leary, has long talked of ambitions to offer low fare transatlantic flights for several years, but until Monday the airline’s board hadn’t officially blessed any proposal.