Ryanair CEO says airline on track to recover last year's 7% fare decline
By Corina Pons
MADRID, Oct 8 (Reuters) - Irish budget airline Ryanair RYA.I believes it is on track to recover its 7% fare decline from 2024 this financial year, Chief Executive Michael O'Leary told Reuters in Madrid on Wednesday.
"The traffic is ahead of target ... Fares look like they will rise by 7% for the full year," O'Leary said, adding this summer's fares were "pretty much" at levels recorded in the summer of 2023.
The CEO said full-year results would, however, depend heavily on pricing in the company's third quarter - which includes the Christmas season - and in the fourth quarter, for which it currently had "very little visibility".
He added that economic weakness in Britain and France was leading to price sensitivity, prompting consumers in those countries to trade down to Ryanair from flag carriers like British Airways ICAG.L or Air France AIRF.PA.
"At the moment there seems to be less demand for trans-Atlantic travel to America - I think (U.S. President Donald) Trump has kind of alienated people - and more people are holidaying around the Mediterranean and Europe, and that has been very good for Ryanair's business," O'Leary said.
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