As if to answer the prayers of budget travelers everywhere, European budget air giant Ryanair is planning to launch new routes connecting Europe with the United States by the end of 2008 – and tickets in coach could start as low as €10 each way, or, currently, just over $12.

Now, don’t jump out of your skin just yet, because it’s not a done deal at the moment. But keep an eye out, because Ryaniar is hoping to offer service from London Stansted airport to New York, Florida, Los Angeles, San Francisco, and Boston. In news articles released today, a Ryanair spokesperson said they couldn’t confirm plans before an official announcement on Monday, but I couldn’t find anything on the company’s website as I was writing this. Ryanair’s CEO Michael O’Leary reportedly is looking to buy airplanes from companies that are struggling in order to offer this new service.

If you’ve never flown with Ryanair, the thing you’ll want to keep in mind is that while the airline offers what seem to be staggeringly low fares, they charge fees for every conceivable thing they can, the prices they quote don’t include taxes (which can be considerable), and their customer service is notoriously atrocious. Still, for something around €20 for a round-trip ticket to Europe, I think I’d be able to forgo my usual need for kindness from airline personnel. If you think you could, too, then stay tuned for some serious competition in trans-Atlantic flights.

>> UPDATE: Turns out O’Leary was either misquoted, or misheard… The plan is still to work on those super-low trans-Atlantic fares, but the timeline isn’t this year. Ryanair’s hoping to be able to do it in the next 2-3 years. So, don’t pack your bags just yet, but it’s still worth it to keep an eye on Ryanair.