The chief authorities of Ryanair has talked about journeys on the airline will become dearer for customers.
Michael O’Leary talked about air fares might rise between 10% and 15% this yr nonetheless are unlikely to increase better than 20%.
The agency’s latest outcomes confirmed the number of flights had already elevated by 14% throughout the closing three months of 2022.
Final summer season the outspoken boss talked about the interval of the €10 (£8.80) flights is over as gasoline costs rocketed after Russia’s invasion of Ukraine.
On the time he talked about Ryanair’s widespread fare would rise from roughly €40 (£33.75) in 2021 to roughly €50 (£44) over the following 5 years, he talked about.
Talking on Wednesday, Mr O’Leary talked about web site guests on the worth vary supplier was anticipated to develop by 10% this yr. Robust bookings may proceed by way of the summer season, he added, pushed partially by US vacationers coming to Europe after the COVID pandemic.
Workplace of Nationwide Statistics figures confirmed air journey prices elevated better than 44% in December from a yr earlier – and the perfect enhance since 1989 – because of extreme demand for journey.
However in January lower air fares and falling wholesale vitality prices have been part of the rationale the tempo of inflation will enhance had dropped.
Inflation has remained in persistent double digit figures and the tempo of price rises actually elevated 10.4% throughout the yr as a lot as February.
There had been a notion that the worst of inflation was over after the velocity of will enhance always fell after a extreme of 11.1% in October.
Earlier this yr Ryanair reported doc after-tax earnings of €211m (£185m) throughout the Christmas season from October to December, bouyed by elevated passenger numbers and dearer flights.
The low value supplier continued to hold out larger than its pre-COVID years as pent-up demand all through October half-terms and Christmas and New Yr breaks resulted in “sturdy” passenger numbers and fares all through the board.
Fares rose 14% over the three months last yr in distinction the similar three months in 2019. The rises have been seen most all through peak journey intervals when demand was pent up, the airline talked about.