By Joshua Manning • 17 May 2022 • 1:26
Ryanair CEO warns that flight prices will rise for summer holidays
Credit: Creative Commons
Ryanair Airline boss Michael O’Leary stated that he expects prices for flights to increase by a “high single-digit per cent,” as reported by the BBC on Monday, May, 16.
Michael O’Leary commented on how the lower prices for flights had increased the number of passengers on flights, helping the company to recover from the pandemic.
Ryanair reported €355m (£302m) annual losses after initially recovering from Covid restrictions to then be hit by the Omicron variant as well as the Ukraine crisis, which has caused jet fuel concerns due to Russia being a major exporter.
Mr O’Leary stated: “It seems to us that there will be higher prices into that peak summer period because there’s so much demand for the beaches of Europe and those price rises going to continue,”
“I think prices will be low next winter. But it’s too early to say, there’s clearly going to be an economic downturn, there’s some fear of recession and in a recession the lowest-cost provider, which in the UK and in Europe is Ryanair, will do better, but will do better because we can sustain lower prices.”
Speaking on the major airport delays seen in the last few months, O’Leary stated:
“There’s no doubt I think getting through airports this summer is going to be challenging and we’re encouraging all of our customers to show up earlier and allow more time to get through airport security”.
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Originally from the UK, Joshua is based on the Costa Blanca and is a web reporter for the Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at [email protected]
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