Ryanair increases forecast to 100m passengers this year
THE boss of Ryanair reckons that the aftermath of the pandemic will bring the best opportunity for growth in his 30-year career.
Michael O’Leary’s comments as the airline said it now expected to fly up to 100 million passengers this financial year.
He predicted that the collapse of some airline rivals plus cuts planned by others are likely to reduce European shorthaul capacity by about a fifth over the next two years.
The Ryanair chief executive said: “I don’t think, certainly in my 30 years in this industry, post-9/11, postCold War, that there has been a growth opportunity in front of Ryanair such as we have at the moment.” The low-cost carrier – which is due to take delivery of 200 Boeing 737 Max planes over the next four years – is to expand rapidly while increasing fares, Mr O’Leary said.
Ryanair said its prediction of 100 million passengers followed a strong recovery in summer bookings.
In May the airline forecast a figure of between 80 million and 100 million travellers in the months to the end of March 2022. But Mr O’Leary told analysts yesterday that, without further disruption, it will be at “the upper end”.
Mr O’Leary said he expected the airline to fly around 10 million passengers in each of the last five months of the year, boosted by pent-up demand from individuals and businesses, bringing it to roughly 90 per cent of 2019 levels by November.
He added: “If you haven’t met your suppliers for the last 18 months you need to get back and see them. If you haven’t made the sales calls, you’re not gonna do that on Zoom.”
Ryanair carried 27.5 million passengers in the year to last March.
The Dublin-headquartered airline expects to exceed 2019 traffic levels, of 149 million fliers, next year.
The announcement came as the company reported a loss of £234million in the first quarter of the year.