Ryanair CEO Warns Air Fares Will Increase For Summer Of 2022
According to The Irish Independent, Ryanair CEO Michael O'Leary has warned that prices will increase as passengers rush to take holidays in Europe in the summer of 2022.
O'Leary reportedly said that this huge demand for holidays will coincide with fewer flights, meaning a price rise for flights and also for hotels.
O'Leary reportedly said in an interview with The Sunday Times, "I think there will be a dramatic recovery in holiday tourism within Europe next year. And the reason why I think prices will be dramatically higher is that there’s less capacity.
"Take out Thomas Cook (six million seats), Flybe (eight million seats), Norwegian (nearly 24 million seats) – Alitalia’s reducing its fleet by 40pc. There is going to be about 20pc less short-haul capacity in Europe in 2022 with a dramatic recovery in demand."
Ryanair prices will be cut this winter to "grab market share everywhere," O'Leary reportedly said.
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