Ryanair boss warns holidaymakers of 10pc rise in fares due to plane shortage

HOLIDAYMAKERS will face higher air fares this summer because of capacity constraints, the boss of Ryanair has warned.

Chief executive Michael O’Leary said issues limiting the number of available aircraft mean European airlines will struggle to meet demand during the peak season.

He predicted that Ryanair’s ticket prices will be up to 10 per cent more expensive this summer compared with the same period last year.

Mr O’Leary said this is because the carrier’s growth in passenger numbers will be lower than expected because Boeing’s new aircraft deliveries are being delayed.

Ryanair’s original forecast for the year to the end of March 2025 was that it would carry 205 million passengers, up from 183.5 million during the previous 12 months. Mr O’Leary told reporters at the carrier’s Dublin headquarters: “With less aircraft, maybe we’ll have to bring that 205 million down towards 200 million passengers.

“It might be a scratch below 200 million, we just don’t know at this stage.

“That probably means that even our growth this year is going to be constrained in Europe, and I think that leads to a higher fare environment across Europe for summer 2024.”

He added: “Fares in summer 2024 are going to be up again on summer 2023. Our average air fares in summer 2023 rose 17 per cent.

“We don’t think we’ll see that kind of double-digit fare increase this year.

“We’re doing our budgets based on a fare increase of 5-10 per cent, which to me feels kind of reasonable.

“If capacity was growing, I think fares would be falling.”

Ryanair has a contract with Boeing for the delivery of 57 new planes by the end of March next year but he expects to only receive 40 to 45 by then.