Michael O’Leary, the CEO of Ryanair, has forecast that the low-cost airline’s ticket costs may increase by up to 10% when compared to the same time previous year.
“Fares in summer 2024 are going to be up again on summer 2023,” stated Mr. O’Leary.
“Our summer 2023 average airfare increased by 17%.
“That kind of double-digit fee hike is not something we anticipate seeing this year.
“We’re doing our budgets based on a fare increase of 5-10%, which to me feels kind of reasonable.”
“It could be higher than that, it could be lower than that, we really don’t know,” Mr. O’Leary continued, citing the unpredictability of the situation.
Ryanair had previously predicted that it will carry 205 million passengers by the end of March 2025, up from 183.5 million in the year prior.
However, Mr. O’Leary said to reporters at Ryanair’s Dublin headquarters: “We might need to move that 205 meters down towards it.
