Ryanair expects European fares to rise by up to 20%
Ryanair chief executive Michael O’Leary says European fares could rise by up to 20% over the next year as fuel costs climb, while the airline has lowered its passenger target for the current financial year.
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Ryanair expects European ticket prices to rise by as much as 20% over the next year as higher fuel costs linked to the war in the Middle East squeeze airlines, chief executive Michael O’Leary said in Brussels on Tuesday. [1]
O’Leary said the increase would be historic and that fuel surcharges passed on to passengers would not fully offset the cost of kerosene, putting airlines’ profit margins under further pressure.
Ryanair has also cut its passenger target for the financial year ending in March, citing reduced capacity during the quieter winter period. It now expects to carry 214 million passengers, down from its previous forecast of 216 million. [1]
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