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Ryanair boss warns of ‘higher fare environment’ for summer holidays

by Staff

Boss of Ryanair, Michael O’Leary, has warned holiday-goers that air fares are set to rise this summer due to a shortage of available planes. He suggests European airlines will struggle to meet the high demand for travel during peak season.

Mr. O’Leary predicts ticket costs with Ryanair could increase by up to 10% compared to last year.

This is because fewer passengers than expected will be flying due to delays with delivery of Boeing’s new aircrafts.

Originally, the airline anticipated it would fly 205 million customers in the year ending March 2025, an increase from the previous year’s 183. 5 million.

However, Mr O’Leary told Dublin reporters: “With less aircraft, maybe we’ll have to bring that 205 million down towards 200 million passengers.”, reports The Nottinghamshire Live.

He added: “It might be a scratch below 200 million, we just don’t know at this stage. That probably means that even our growth this year is going to be constrained in Europe, and I think that leads to a higher fare environment across Europe for summer 2024.”

Looking ahead, he stated: “Fares in summer 2024 are going to be up again on summer 2023. Our average air fares in summer 2023 rose 17%.”

“We don’t think we’ll see that kind of double-digit fare increase this year. We’re doing our budgets based on a fare increase of 5-10%, which to me feels kind of reasonable.”

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