Ryanair says airfares will keep falling through winter

Ryanair expects airfares will continue to fall by around 5 per cent as passenger demand slumps. “More people are flying with us this summer at lower fares,” said Michael O’Leary, chief executive of Europe’s biggest budget airline. “Good news for our passengers, bad news for our shareholders.”

- SIMON CALDER

Ryanair, like other carriers, had seen double-digit growth in the first two summers since the Covid pandemic. Earlier this year the chief executive, Michael O’Leary, predicted average summer fares would rise by 5 to 10 per cent. But his current expectation is that the peak quarter from July to September will be down 5 per cent.

Mr O’Leary said while he had “no idea” how fares would turn out, he added: “It is reasonable to expect that fares will be down 5 per cent for the rest of the [financial] year.” That ends on 31 March 2025.