Ryanair issues warning over summer 2024 flight fares in major blow to holidaymakers
Ryanair may introduce higher fares by summertime
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Ryanair may mark up their basic prices by 10 per cent on last year following a shortage of operational planes, the airline’s boss has warned.
A delay in Boeing aircraft deliveries could force the Irish company to axe flights on high-frequency routes in the coming months.
Ryanair chief executive Michael O’Leary has forecast a 10 per cent jump in the budget airline’s ticket prices by summertime.
He warned that limitations in available planes will likely see many European airlines struggle to meet demand during the peak season.
Michael O'Leary put the price increase down to a shortage of planes
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Mr O’Leary said: “Fares in summer 2024 are going to be up again in summer 2023. Over average airfares in summer 2023 rose 17 per cent.
“We’re doing our budgets based on a fare increase of five to 10 per cent, which to me feels kind of reasonable.
“It could be higher than that, it could be lower than that, we really don’t know. If capacity was growing, I think fares would be falling.”
Ryanair faces the potential ordeal of cancelling hundreds of flights in the following months due to delayed deliveries.
The budget airline acquires its aeroplanes from the U.S. company Boeing, which has endured a wide range of problems lately.
More than 170 Boeing 737 Max 9 planes were grounded in January after Alaska Airlines lost a door mid-flight due to loose screws.
The manufacturer has since been ordered to pause production by US regulators while it addresses quality control procedures.
Ryanair was expecting to take the delivery of 57 new 737 aircraft in 2024, but may only see 35 delivery, The Telegraph reports.
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Ryan Air acquires its aircrafts from Boeing
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Staff shortages have already prevented the airline from increasing its capacity to meet the surging demand.
It comes as the airline cut its profit expectations after some online travel agents stopped selling its flights.
The airline reduced fares to fill seats at the end of 2023 after sites including Booking.com, Kiwi, and Kayak removed Ryanair flights from their platforms.
The move from online travel agents, coupled with an increase in the airline’s fuel bills, has taken a hit at the airline’s profits.