Ryanair forecasts “strong demand” for the summer of 2023, driven mainly by the return of Chinese to Europe. Paul Hanna/REUTERS
The low-cost airline’s ticket prices are expected to rise 5-10% this summer compared to 2022, its boss Michael O’Leary warns.
“You won’t see ten euro banknotes in the next few yearssummed up Michael O’Leary last summer. Suiting words to deeds, the boss of Ryanair announced on Wednesday February 1 that the prices of plane tickets for the low-cost Irish company should increase by 5 to 10% in the summer season 2023 compared to 2022, in a context of high inflation. Ryanair plans tostrong demand“for this summer, driven in particular by the Asian market, after the lifting of health restrictions in China, and by American customers”who benefit from a strong dollar“, he added during a press conference held in Lisbon.
Read alsoIn France, the price of plane tickets soared by 20% in 2022
In France, the price of plane tickets soared by 20% in 2022
This price increase is made inevitable, in particular, by inflation and the rise in the cost of fuel. In its latest report published at the end of January, the General Directorate of Civil Aviation (DGAC) confirms a price increase of 21.7% since January 2022 from the French metropolis. The medium-haul network, on which Ryanair operates, is the one most affected by the rise in prices (+24.2%), a “increase which remains driven mainly by low-cost carriers“says the report.
The Irish carrier announced on Monday a net profit of 211 million euros in the third quarter shifted from the 2022/2023 financial year, driven by the rebound in demand, particularly for the end-of-year holiday period, against a loss of 96 million euros a year earlier.