Ryanair boss warns of 10% price hike this summer

National World - LocalTV

Ryanair warned of a potential 10% hike in airfares this summer due to aircraft shortages, according to CEO Michael O'Leary. The budget airline anticipates struggling to keep up with travel demand during peak season, citing issues with Boeing and Airbus aircraft deliveries. O'Leary predicts that ticket prices could surge compared to last year, with constraints on passenger capacity.   Ryanair's summer 2024 fares are expected to surpass those of 2023, which saw a 17% increase. While the airline has a contract with Boeing for 57 new planes by March's end, O'Leary anticipates receiving only 40 to 45 due to regulatory scrutiny following a mid-air incident involving a Boeing 737 Max 9. The Federal Aviation Administration's intensified oversight has impacted aircraft deliveries, potentially leading to higher summer fares for holidaymakers.

Transcript

00:00 Ryanair has warned of a potential 10% hike in airfares this summer due to aircraft shortages.

00:09 That's according to CEO Michael O'Leary.

00:12 The budget airline anticipates struggling to keep up with travel demand during peak

00:17 season, citing issues with Boeing and Airbus aircraft deliveries.

00:23 O'Leary predicts that ticket prices could surge compared to last year, with constraints

00:29 on passenger capacity.

00:31 Ryanair's summer 2024 fares are expected to surpass those of 2023, which saw a 17%

00:40 increase.

00:41 Now, while the airline has a contract with Boeing for 57 new planes by March's end,

00:46 O'Leary anticipates only 40 to 45 due to regulatory scrutiny following a mid-air incident

00:54 involving a Boeing 737 MAX 9.

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