Ryanair has just announced bad news for the company’s customers this summer. His boss takes stock following two years of pandemic and a year 2022 which begins under the influence of the war in Ukraine. Here’s what you need to know.
Michaël O’Leary, boss of Ryanair, has just reviewed the financial situation for the past few months. With Covid-19, the majority of airlines had seen their turnover drop with serious consequences. This year, the CEO hopes that Ryanair will fully recover from the pandemic. But the start of the year with the Russian offensive in Ukraine does not help the situation. Comments relayed by our colleagues from the BBC.
A rise in prices following June
For some time now, the Irish company has observed a significant overcrowding in flights. Ultimately, this situation might generate a significant price increase. On the calendar side, prices are expected to remain quite low until Junebefore experiencing an increase in early summer.
Michaël O’Leary evokes a contextual reason: the beaches of Europe would be in high demand this summer, and therefore, flights by plane to more frequented vacation spots.
Towards a return to normal this winter?
For the CEO of Ryanair, it appears that the prices of the company’s flights might come down to earth as early as next winter. “I think prices will be low next winter. But it’s too early to tell, it’s clear there’s going to be an economic downturn, there’s fear of a recession and in the event of a recession, the low-cost supplier , which in the UK and Europe is Ryanair, will do better, but it will do better because we can keep prices lower,” he told the BBC.
In the trends, the low cost giant also mentions passengers who book their tickets later than usual. A trend that tends to reverse with the return of pre-Covid traffic. Still in the tourism sector, the tour operator Tui told our colleagues that reservations over the period would be equal to that of 2019. On the other hand, no last minute offers are planned this year.
