Ryanair, Europe’s biggest airline, says airfares will be ‘materially lower’ this summer

Ryanair anticipates that airfares for the summer travel season will be significantly lower than last year, following a sharp decline in profits.

The airline reported a nearly 15% drop in average fares for April to June, falling to €41.93 ($45.65) from €49.07 ($53.42) the previous year.

Despite strong demand in the second quarter, Ryanair’s CEO, Michael O’Leary, stated that fares are expected to be lower than initially anticipated.

This forecast contrasts with an earlier warning that fares might increase due to delays in aircraft deliveries from Boeing.

Ryanair’s profits fell 46% to €360 million ($392 million), even as passenger numbers rose by 10%, CNN has reported.

read more: https://www.cnn.com/2024/07/22/business/ryanair-fares-lower-summer/index.html

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