Ryanair CEO: summer airfares 7-9% higher than pre-pandemic levels

Ryanair Group Chief Executive Michael O'Leary told Reuters that "we've seen very strong bookings through May. We had 92% load factor in May.

Tue, 14 Jun, 2022 - 09:56

Ryanair Group Chief Executive Michael O'Leary said bookings for Europe's biggest budget airline have continued to strengthen and he expects summer fares to be between 7% and 9% higher than pre-pandemic levels.

O'Leary told Reuters that "we've seen very strong bookings through May. We had 92% load factor in May. We think that would rise to about 94% in June. And July, August, and September look very strong with higher load factors and also higher fares".

"Fares will be up probably high single digits 7,8, 9% over summer 2019," he said.

Yesterday it was announced that Ryanair's Spanish cabin crew unions will go on strike in late June and early July after pay talks fell apart.

Workers are set to strike on June 24, 25, 26 and 30, as well as on July 1 and 2, officials for the main Spanish crew unions USO and SITCPLA said in a press conference in Madrid on Monday.

The two workers’ organizations are coordinating with five more unions in Belgium, France, Italy and Portugal to organize continent-wide protests if Europe’s largest low-cost carrier refuses to negotiate. Walkouts may threaten Ryanair’s recovery from the coronavirus pandemic during the summer’s high season when travel demand is expected to reach levels similar to 2019.

Ryanair traded as much as 3.9% lower in Dublin on Monday. The shares are down almost 19% this year.