According to Ryanair Group chief Executive Michael O'Leary, flying has become "too cheap for what it is". In FY2022 Ryanair's average fare fell -27%, to EUR27, thanks to COVID-19, but had already been on a downward trend since FY2013. In an interview with the Financial Times (2-Jul-2022), Mr O'Leary predicted that Ryanair's average fare would grow from EUR40 to between EUR50 and EUR60 over the medium term. Ryanair's total revenue per passenger is lower than that of its competitors, and this has enabled it to meet passenger growth targets in the past. If it can maintain its relative price discount, Ryanair may be able to reconcile rising fares with its demand growth targets.

Source: The North Africa Journal July 08, 2022 03:07 UTC