The chief government of Ryanair has mentioned journeys on the airline will develop into dearer for shoppers.
Michael O’Leary mentioned air fares may rise between 10% and 15% this yr however are unlikely to extend greater than 20%.
The firm’s newest outcomes confirmed the variety of flights had already elevated by 14% within the closing three months of 2022.
Last summer time the outspoken boss mentioned the period of the €10 (£8.80) flights is over as gasoline prices rocketed after Russia’s invasion of Ukraine.
At the time he mentioned Ryanair’s common fare would rise from roughly €40 (£33.75) in 2021 to roughly €50 (£44) over the subsequent 5 years, he mentioned.
Speaking on Wednesday, Mr O’Leary mentioned site visitors on the price range provider was anticipated to develop by 10% this yr. Strong bookings might proceed by means of the summer time, he added, pushed partially by US vacationers coming to Europe after the COVID pandemic.
Office of National Statistics figures confirmed air journey costs elevated greater than 44% in December from a yr earlier – and the best improve since 1989 – as a result of excessive demand for journey.
But in January decrease air fares and falling wholesale vitality costs have been a part of the rationale the tempo of inflation will increase had dropped.
Inflation has remained in persistent double digit figures and the tempo of worth rises really elevated 10.4% within the yr as much as February.
There had been a perception that the worst of inflation was over after the speed of will increase constantly fell after a excessive of 11.1% in October.
Earlier this yr Ryanair reported document after-tax earnings of €211m (£185m) within the Christmas season from October to December, bouyed by elevated passenger numbers and dearer flights.
The low price provider continued to carry out higher than its pre-COVID years as pent-up demand throughout October half-terms and Christmas and New Year breaks resulted in “strong” passenger numbers and fares throughout the board.
Fares rose 14% over the three months final yr in contrast the identical three months in 2019. The rises have been seen most throughout peak journey intervals when demand was pent up, the airline mentioned.
Source: information.sky.com”