Ryanair warns post-pandemic travel boom may come to an end

Europe’s largest airline warned that high inflation and rising interest rates could dent appetite for air travel in the second half of the year

Jul 25, 2023

The travel industry has defied a global economic slowdown, enjoying record bookings and profits as pent-up demand following the pandemic fueled spending on air tickets and hotels. But that may be starting to change.

Key takeaways

  • “We’re concerned about the impact of these macroeconomic trends,” CEO Michael O’Leary said in a video posted on the company’s website, adding that they “might affect consumer spending in the second half of the year;”
  • The airline's outlook has turned more cautious, even though Ryanair reported profit of €663 million ($735 million) for the three months ending in June - nearly four times higher than in the same period last year;
  • Average air fares at Ryanair jumped 42% in the latest quarter, following heavy discounting last year, but the company noted a “softening” in fares for last-minute bookings in June and early July.

Get the full story at CNN

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