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Ryanair boss says 'recessionary feel' could be limiting air ticket price rises

Posted on AllSides May 20th, 2024
From The Center
REUTERS/Francois Lenoir/Files

Ryanair (RYA.I), opens new tab CEO Michael O'Leary said on Monday that a "recessionary feel around Europe" could be a factor in slower-than-expected growth in airfares as the low-cost carrier posted record annual profits slightly ahead of expectations.

O'Leary warned two weeks ago that summer fares would likely be lower than the 5% to 10% rise it expected as recently as late April. The airline said on Monday its fresh forecast of flat to modest year-on-year peak summer price growth was "heavily dependent" on last-minute summer bookings.

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