Ryanair predicts that air ticket prices will increase by 5-10%

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Ryanair predicts that air ticket prices will increase by 5-10% this summer compared to last summer, as demand for air travel is growing while capacity has declined. Despite the expected price increase, Ryanair’s CEO, Michael O’Leary, believes that passengers will still travel and mentions that bookings for beach destinations in southern Europe, such as Portugal, are very high for Easter and the summer.

O’Leary does not think the higher prices will deter people from traveling, as people have been isolated for 2.5 years due to Covid-19 and are eager to see family and friends and travel to destinations like the beaches of Portugal. He says that people may cut costs in other areas but will still travel. He predicts that short-haul and medium-haul travel, especially from the UK, will be very strong, while long-haul travel will be weaker due to the rise in the dollar and restrictions in Asia.

This summer, Ryanair will have 19 new routes in Portugal, 11 in Porto and 8 in Faro. However, Ryanair will not grow in Lisbon, Madeira, and the Azores because the rates are too high and, in the case of Lisbon, because TAP has not released its unused slots and there is no new airport being built. The CEO of Ryanair has asked the government to ask TAP to release the slots and to speed up the opening of Montijo airport, which would increase traffic, tourism, and jobs in Lisbon.

Despite the lack of growth in Lisbon, Madeira, and the Azores, Ryanair expects to grow 13% in Portugal and transport a total of 13 million passengers on national routes in 2023, becoming the number one airline in the country. The CEO of Ryanair says that Ryanair is growing strongly in Portugal and will base four more planes in the country, two in Porto and two in Faro.

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