May 16, 2022
Ryanair warns prices to rise for European summer trips
Plane ticket prices will rise this summer due to high demand for European beach holidays, Ryanair has said. Airline boss Michael O'Leary said he expects prices for flights to rise by a "High single-digit per cent". The conflict in Ukraine has driven up global oil prices with concerns supplies from Russia, a major exporter of fossil fuels and jet fuel, could be disrupted. 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. "I think prices will be low next winter. But it's too early to say, there's clearly going to be an economic downturn, there's some fear of recession and in a recession the lowest-cost provider, which in the UK and in Europe is Ryanair, will do better, but will do better because we can sustain lower prices."
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