Ryanair CEO Michael O’Leary has warned that prices for flight tickets will likely continue to increase in price over the next five years, as flying has become “too cheap” for airlines to make profits as industry costs balloon.
Ticket prices across Europe and the US have been on the rise over the past months, as pent up demand for post-pandemic travel together with airlines cutting capacity due to staff shortages creating the perfect storm.
In comments to the Financial Times, Mr O’Leary said:
“It’s got too cheap for what it is. I find it absurd every time that I fly to Stansted, the train journey into central London is more expensive than the air fare.”
He remarked that a combination of high oil prices, impacting the cost of fuel, and environmental charge to push the average Ryanair fare up from €40, to between €50 and €60.
Across Europe, the aviation industry continues to face disruption and chaos. Delayed or cancelled flights across Germany, the UK, Spain, Poland and Amsterdam continue to wreak havoc on the itineraries of holidaymakers and businesspeople alike, at a time when it is more expensive to fly.
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