Ryanair chief executive Michael O’Leary has warned flight prices will be higher this summer due to the high demand for European holiday destinations. He told BBC Radio 4’s Today Programme:”I think capacity, generally, across the summer will be down 10%, 15%.
“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% 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.
“I think it’s very difficult to predict, we expect Ryanair to operate about 115% of our pre-Covid capacity this summer. We’re adding new aircraft, new bases, over 700 new routes. 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.”
