Ryanair looks set to bring low-cost, no-frills travel transatlantic after the airline's board announced they have approved plans for offering flights from Europe to the US.

The proposals currently plan to have some transatlantic tickets available for €14 one-way, although most routes would likely be far higher.

"The board of Ryanair, like any PLC, have approved the business plans for future growth, including transatlantic," the company said in a statement today.

The deal hinges on the airline’s ability to reach a deal with airline manufacturers on purchasing long-haul aircraft.

“We are talking to manufacturers about long-haul aircraft but cannot comment further on this..

“The business plan is there but it's dependent on attaining viable long haul aircraft and we estimate that's 4 to 5 years away,” the company said.

Ryanair owner Michael O’Leary has long had plans for a transatlantic service, however any venture into the market is viewed cautiously.

Ryanair said they would ideally operate from 12-14 European cities and a similar number of American cities. Dublin and London would likely be included.

“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 company said.