Ryanair chief executive Michael O’Leary on Thursday warned of a significant rise in airfares if oil prices remained high into next year but said the outlook for ticket prices for the coming months was “entirely up in the air”.
“If oil prices remain high into next year, I think there will be a significant uplift in airfares, and we would hope to avoid that,” O’Leary told reporters ahead of the airline’s AGM.
“We expect pricing to be very modestly down in the second quarter (from July to September), but the December and March quarters are entirely up in the air.”
(Reporting by Conor Humphries and Graham Fahy, writing by Padraic Halpin, editing by Sam Tabahriti)