Ryanair CEO sees 'very strong recovery', nudges up passenger target
Reuters
Published Aug 31, 2021 03:29AM ET
Updated Aug 31, 2021 07:36AM ET
By Philip Blenkinsop
BRUSSELS (Reuters) -Ryanair has nudged up its passenger target for the autumn amid signs of a "very strong recovery" in European short-haul flights, Chief Executive Michael O'Leary told Reuters in an interview on Tuesday.
The Irish airline, Europe's largest by passenger numbers, is expected to fly 10.5 million passengers per month in September, October and November, O'Leary said.
That compares with a July forecast of an average of 10 million for each of those months..
"As long as there are no adverse COVID developments, things are set fair for a very strong recovery," O'Leary said ahead of a press briefing in Brussels.
The CEO also said Ryanair was on target to exceed its 10.5 million passenger target for August.
Capacity should return to pre-pandemic levels in October, from close to 90% in September and 80% in August, he added. But the airline is likely to fly with an average of 15-20% empty seats on planes this winter compared with 7-8% before the pandemic.
"Through the winter, pricing will continue to build, but it will still be below (pre-)COVID," he said. "We don't expect pricing to go back to pre-COVID levels until the summer of 2022."
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.