Low-cost airline Ryanair expects ticket prices to decrease by 10-15% in the next 2 years, due to the reduction in crude oil prices, stated CEO Michael O’Leary in an interview. Currently, the average price of Ryanair tickets is 46 EUR, compared to approximately 170 EUR for short-haul flights in Europe by other airlines.
According to Ryanair data, the total number of passengers transported in 2014 reached 86.4 million, recording a 6% increase compared to 2013.
Recently, the company revised upwards its estimates regarding profit and the number of passengers transported in the 2014 fiscal year, amid a higher-than-expected number of winter bookings.
The Irish company’s profit after tax is expected to reach 810 – 830 million EUR in the period October 2014 – March 2015, compared to a previously estimated gain of 750 – 770 million EUR.
Additionally, the operator launched a new product that allows customers to change their bookings for free.
Source: Economica
Frequently Asked Questions
Why is Ryanair reducing ticket prices?
Ryanair expects a 10-15% price drop due to the decrease in crude oil prices over the next two years.
How does Ryanair’s average fare compare to competitors?
Ryanair’s average fare is 46 EUR, significantly lower than the 170 EUR average for short-haul flights from other European airlines.
What new service did Ryanair recently introduce?
The airline launched a new product that allows passengers to change their flight bookings free of charge.