Ryanair filed disappointing Q1 and Q2 results, with a 46% drop in profits this summer, and fares were down 15% year-over-year in Q1. So now the ultra-low cost Dublin airline is considering significantly raising its prices.
Consumers have pulled back as inflation has squeezed their wallets, and even bargain retailers have been hurt by ultra-cautious customers. “Management perceived a consumer under significant pressure, with spending falling due to the impact of higher interest rates and inflation,” according to an analyst note from research firm Bernstein this week. “Consumer pressure is and was the biggest story of sluggish yields.”
