Ryanair expects sharply lower ticket prices

Irish airline Ryanair anticipates that ticket prices in July, August, and September would be ‘significantly’ lower than last summer. The average flight in the first quarter of the year was 15% cheaper than in 2023. Ryanair reported revenue of €3.63 billion in the first quarter, around 1% lower than the same period last year, despite a 10% increase in passenger numbers to 55.5 million. CEO Michael O’Leary expressed surprise at past prices and indicates readiness to cut prices further to fill planes in April, May, and June. Industry challenges like delays in aircraft deliveries and parts issues, previously expected to drive prices up, have limited capacity in Europe. Ryanair’s earnings slid by 46% to €360 million compared to the first quarter of 2023, primarily due to these lower ticket prices, according to Jacob Pedersen, head of equity analysis at Sydbank.