Michael O'Leary warns high demand for European beach holidays will mean price rises.
Plane ticket prices will rise this summer due to high demand for European beach holidays, Ryanair has said.
He said he hoped the airline would return to "reasonable profitability" in its current financial year. The group's loss for the year to 31 March was smaller than expected and narrowed from the €1.02bn losses seen the previous year.Mr O'Leary said he expected prices to be lower up to June compared to pre-pandemic levels, but added "based on about 50% of all bookings, we expect prices will be up high single-digit per cent" over the Summer.
In its results the airline stated customers were still booking their trips later than usual and said the "booking curve" looked more like pre-Covid times. Mr O'Leary said he hoped to see "pinch points" at UK airports such as Manchester or Heathrow eliminated by the end of June in time for the peak summer period.
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