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Benzinga
Benzinga
Business
Akanksha Bakshi

Ryanair CEO Expects Summer Rates To Increase By 7-9% Compared To 2019: Reuters

  • Ryanair Holdings (NASDAQ:RYAAY) Chief Executive Michael O'Leary stated that bookings are strengthening, and he expects summer fares to be between 7% and 9% higher than pre-pandemic levels, reported Reuters.
  • In an interview with Reuters, he predicted that the load factor, a measure of how well an airline fills available seats, should be around 94% in June, nearly matching pre-COVID-19 pandemic levels.
  • "And July, August, and September look very strong with higher load factors and also higher fares," he added.
  • "Fares will be up probably high single digits 7,8,9 percent over summer 2019."
  • He expects the traveling experience for European customers to improve over the summer as airport management groups "iron out" staffing shortages through recruitment.
  • He mentioned that there might be a small number of cancellations or delays but that the proposed strike action has "no support."
  • Price Action: RYAAY shares are trading higher by 1.44% at $71.02 during the premarket session on Tuesday.
  • Photo Via Wikimedia Commons
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