Aug 30, 2022
Ryanair will grow even faster in recession, boss says
Ryanair will grow even faster in the event of an economic downturn in the UK, the company's boss has told the BBC.Michael O'Leary said people would still fly during a recession but they would choose low-fare airlines like Ryanair. Mr O'Leary told the BBC: "A deep recession in the UK or an energy crisis will certainly affect overall demand, but within that - as has happened in the last four or five recessions - you see people trading down from high-fare airlines like BA and Easyjet, to low-fare airlines like Ryanair." Mr O'Leary said Ryanair still had not been able to provide Covid refunds to 200,000 passengers, out of a total of 30 million. Ryanair has faced battles with unions after it cut salaries during the pandemic but it has been less affected by staff shortages and cancellations than other airlines. Mr O'Leary said he expected passenger growth in the next few years to be largely made possible by taking delivery of 51 new, more efficient Boeing aircraft - although he cast some doubt upon whether they would be delivered on time.
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