Ryanair has warned holidaymakers will face higher air fares during the summer due to the issues which are limiting the number of available airplanes.
Ryanair chief executive Michale O’Leary said that ticket prices will be 10% more expensive over the summer period compared to last year.
O’Leary told reporters, “With less aircraft, maybe we’ll have to bring that 205 million down towards 200 million passengers.
“It might be a scratch below 200 million, we just don’t know at this stage.
“That probably means that even our growth this year is going to be constrained in Europe, and I think that leads to a higher fare environment across Europe for summer 2024.”
He added, “Fares in summer 2024 are going to be up again on summer 2023.
“Our average air fares in summer 2023 rose 17%.
“We don’t think we’ll see that kind of double-digit fare increase 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 don’t really know.
“If capacity was growing, I think fares would be falling.”
