The head of Europeʼs largest low-cost carrier Ryanair said that ticket prices will rise this summer due to high demand for European beach holidays.
This was reported by the BBC.
Michael OʼLeary said the airlineʼs low fares are now helping to increase passenger numbers by helping the company recover from the pandemic. He hopes the airline will return to profitability in the current fiscal year. He did not specify how much the cost would increase, saying it would be a "substantial percentage".
On Monday, the company reported annual losses of € 355 million, saying its recovery from anti-coronavirus restrictions was affected by the spread of the Omicron strain and the war in Ukraine, which led to rising world oil prices.
- Earlier it became known that Ryanair plans to resume flights from Ukraine this fall. OʼLeary has promised that Ryanair will be "the first airline to return to Ukraine" after the Russian invasion, when it is safe to do so.