Ryanair boss warns flight prices will rise this summer as holidaymakers told ‘book early’

Ryanair has warned flight prices will rise this year amid surging demand for travel.

The Dublin-based airline said average fares between October and December were 14% above 2019 levels, and it recorded a profit of 211 million euro (£185 million) for the quarter.

This is compared to a 96 million euro (£84 million) loss a year earlier, and is more than double its 88 million euro (£77 million) profit for the same three months in 2019.

The airline carried 38.4 million passengers between October and December, up 24% year-on-year and 7% above pre-Coivd levels.

Ryanair said there was “strong pent-up travel demand” during the October half-term break and the Christmas and New Year period, and expects fares to rise heading into Easter and the summer.

Chief executive Michael O’Leary said there is “robust demand” for Easter and summer 2023 flights driven by the return of Asian tourists and Americans being encouraged to visit Europe due to the strength of the US dollar.

He urged holidaymakers wanting the lowest fares to book as soon as possible as the airline expects “these will sell out early”.

It comes as air fares are rising at their fastest rate since records began as carriers capitalise on demand post-Covid lockdowns. Figures from the Office for National Statistics (ONS) show ticket prices rose by 44.1% last year - the largest rise since records began being compiled in 1989.

Ryanair has announced 230 new routes for the 12 months to the end of March 2024 and is expanding in Italy, Poland, Ireland and Spain.

The company also took delivery of 11 Boeing 737 Gamechanger aircraft in the last quarter that carry more people at reduced fuel burn, bringing its fleet of the more fuel-efficient aircraft to 84.

Mr O’Leary said this month that the company was seeing its best ever sales for summer travel as the airline expands its route network.

Ryanair’s new Summer ’23 schedule includes more than 180 routes from London Stansted, Gatwick and Luton airports, with six new routes to Asturias, Belfast, Cornwall, Edinburgh, Klagenfurt and Leipzig.

The airline will operate more than 3,000 weekly flights to and from Stansted, Gatwick and Luton Airports in the summer, with 10% growth compared to last year.

Mr O’Leary said earlier this month: “Our schedule has grown 10% on last Summer, with 3,000 weekly flights scheduled across 180 plus routes, including six new sunshine destinations and increased frequencies on 30 plus other popular routes like Berlin, Malaga, Mallorca, Nantes and Palma.”