CEO of Ryanair issued warning regarding ticket prices over jet scarcity

Bad news for those looking to take a plane for their vacation, as air ticket prices are expected to increase in the coming months.

Michael O’Leary, the boss of Ryanair, said that travel could get more expensive because there aren’t enough planes.

He says that Ryanair’s ticket prices could be about 10% more costly this summer than last year.

However, not only Ryanair, but all airlines in Europe will have a hard time meeting demand during the busy summer season because there are not enough planes available.

Boeing has postponed giving out its new airplanes because an emergency door fell off one of its 737 Max planes at 16,000 feet.

The planes have been causing a lot of arguments, and Mr. O’Leary says that Ryanair will only get 45 of the 57 new planes it ordered from Boeing by the end of March.

Ryanair thought they would take 205 million people on their planes by March 2025, which is more than the 183. 5 million they took in the last year.

Mr O’Leary said that if they have fewer airplanes, they might have to lower the number of passengers from 205 million to 200 million.

“We don’t know for sure, but it’s possible that it’s just a little less than 200 million. ”

This likely means that our business won’t grow much this year in Europe, so the cost of travel in Europe might go up in the summer of 2024.

“In summer 2024, the prices for travel will be higher than they were in summer 2023. ”

In the summer of 2023, our plane ticket prices went up by 17%.

We don’t expect the ticket prices to go up by a lot this year.

“We are planning our budgets with a 5-10% fare increase, which seems fair to me. ”

It might be more than that, it might be less than that, we are not sure. If more seats were available, I believe ticket prices would go down.

In addition to the Boeing problem, over 1,000 engines made by Pratt & Whitney had to be taken off Airbus planes because of a safety issue last July.

Mr O’Leary said that airlines like Wizz Air, Lufthansa, and Air France will be parking at least 20% of their A320 planes.

He said: “If we could get all 57 planes from Boeing before the end of June, we would make a lot of money this summer because airports really want to buy from us. “