Ryanair has warned customers to expect price increases this summer.
Ryanair CEO Michael O'Leary admitted the airline reported an annual loss of £302 million but is hopeful to return to reasonable profits as more Brits pack their bags and jet off.
Many holidaymakers will be setting off on their first trips abroad since the pandemic, which halted holidays and grounded a mass amount of airline fleets.
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However, Mr O'Leary issued a word of caution to customers, telling them they should prepare for delays and price increases.
Speaking on BBC Radio 4 about the changes, he said: "Prices will be up by, I think, in the first quarter, they’ll be down on pre-Covid up to June, for the September-quarter at the moment, based on about 50 percent of all bookings, we expect prices will be up high single-digit percent.
"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."
The budget airline boss predicted that Ryanair would be at 115 percent of their pre-Covid capacity this summer and will be putting in provisions for an influx of passengers.
O'Leary added: "We’re adding new aircraft, new bases, over 700 new routes."
He urged customers to be prepared for delays at airports, particularly those flying from Manchester Airport which saw a mass amount of delays, leading to many missing their flights.
Airports across the UK have been under pressure in recent weeks due to staff shortages and a surge in air travel over Easter.
Mr O'Leary said: “We would hope to see those pinch-points eliminated by the end of June in time for the peak summer period."
For those hoping for cheaper travel may be better booking holidays for the colder months, the CEO said, predicting an "economic downturn" next winter.
However, despite the challenges, the low-budget airline is set for success, according to Mr O'Leary, as the "lowest cost provider" does better in times of recession, because they can sustain lower prices, he said.
Ryanair has reported narrowed annual losses of £302 million, but hopes to return to “reasonable profitability” in its current financial year due to an easing of restrictions around the globe.
