Ryanair CEO Michael O’Leary has warned of a potential 10% increase in flight prices during the summer due to a shortage of planes.
The low-cost airline expected 57 new aircraft but will only receive around 40, leading to fewer available seats compared to the demand. This imbalance in supply and demand is cited as the reason for the anticipated price hike.
Safety issues at Boeing are also mentioned as a contributing factor to the reduced delivery of new aircraft.
O’Leary mentions a potential revision of their passenger transportation goal from 205 million to 200 million for the staggered financial year ending in March 2025. While growth in Europe may be limited, O’Leary believes the ticket price increase will be less drastic than the 17% rise seen in the summer of 2023.
