MADRID (Reuters) – Irish airline Ryanair believes it is on track to make up for the 7% drop in fares recorded in 2024 this year, Chief Executive Michael O’Leary told Reuters on Wednesday.
“Traffic is ahead of target (…) Fares are expected to increase by 7% for the whole year,” said Michael O’Leary who was in Madrid, adding that prices recorded this summer were “roughly” at summer 2023 levels.
The chief executive said full-year results would, however, depend heavily on pricing in the company’s third quarter – which includes the Christmas period – and fourth quarter, for which the company currently has “very little visibility”.
He added that weak economies in Britain and France were leading to price sensitivity, prompting consumers in those countries to turn to Ryanair over national carriers like British Airways or Air France.
“At the moment there seems to be less demand for transatlantic travel to America – I think (US President Donald) Trump has sort of alienated people – and more people are vacationing around the Mediterranean and Europe, and that has been very good for Ryanair’s business,” Michael O’Leary said.
(Reporting Corina Pons, written by David Latona; Noémie Naudin, edited by Kate Entringer)
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