Ryanair will increase average fare over the next five years, says CEO

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Due to the rising cost of fuel, Ryanair’s CEO recently acknowledged that the company will raise its average fare. In a conversation with the BBC, Michael O’Leary said that the era of €10 was over. Leary said that the airline would increase average fare from €40 to €50 over the next five years.

In recent years, air travel has become affordable and more people have started travelling, including it in their annual vacations or even on their short trips. Commercial aviation is currently under pressure to decrease its impact on the environment and also persuade people to travel by air often. Commercial aviation contributes nearly 2.4 per cent to the world’s carbon emissions.

Also read | Ryanair to appeal against Hungary’s ‘baseless’ consumer protection fine

Leary further stated that despite the rising cost of living, people will still continue to fly. The airline’s CEO, however, stated that he anticipates customers will look for cheaper alternatives than reducing their flying schedule. Although the airline was making investments in more fuel-efficient planes. The CEO claimed that switching from gasoline and diesel to electronic road vehicles would result in far bigger reductions in the consumption of fossil fuels.

Also read | Fresh transport strikes hit UK and Europe

Currently, travellers are eager to board planes again after the Covid epidemic, which interrupted international travel. However, as demand for travel increased, airlines fell short of staff, resulting in the cancellation and delays of flights.

Despite having its headquarters in Dublin, Ryanair offers hundreds of routes to and from the UK. The CEO said that Britain’s exit from the European Union had been disaster for the free movement of labour and urged the govt to be honest and manage labour shortages.

(With inputs from agencies)

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