Michael O'Leary, CEO of Ryanair, explains that, despite a drop in capacity in Europe and delays in the delivery of Boeing aircraft, ticket prices seem to remain stable or increase slightly, by between 0% and 5%, during the summer months. This is attributed to consumer resistance despite price increases of over 20% in the previous two summers.

O'Leary mentions that the April to June period is weaker in terms of fares, partly due to an early start to Easter this year, which shifted some travel from April to May and June. It also notes that only 40% of seats for the July to September quarter have been sold, leaving open the possibility that prices could fall.

Ryanair has initiated a €700 million share buyback programme to satisfy shareholders while focusing on consumer needs during the summer. O'Leary points out that, despite the challenges, the company has managed to control its costs well, in particular by saving €450 million on fuel over the next twelve months, which is helping to boost fares. He notes a very positive consumer response to recent fare incentives, indicating that sales volumes remain high when promotions are offered.

However, delays in the delivery of Boeing aircraft are impacting Ryanair's ability to increase volumes during the peak travel period of July to September. The company anticipates strong demand for travel, but regrets the shortfall of 20 aircraft, which has led to a reduction in its annual traffic forecast from 205 to around 200 million passengers. Despite these challenges, Ryanair remains optimistic about its ability to manage the situation and respond effectively to consumer demand.


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