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Ryanair price hike will kill super-cheap international air travel

Ryanair price hike will kill international weekend breaks
Michael O’Leary, the chief executive of Ryanair
Written by Harry Johnson

When it comes to the pressures on international travel, it appears that the cost-of-living crisis will pick up where the pandemic left off

Michael O’Leary, the chief executive of Ryanair, has announced that the Irish ultra-low-cost carrier will raise the fare prices to cope with rapidly rising fuel costs.

The airline’s average fare was reportedly €40 last year, but, according to O’Leary, the fare is likely to be raised shortly.

“We think that €40 needs to edge up towards maybe €50 over the next five years. So, the £35 average fare in the UK will rise to maybe £42 or £43,” O’Leary said.

“There’s no doubt that at the lower end of the marketplace, our really cheap promotional fares, the €1 fares, the €0.99 fares, even the €9.99 fares, I think you will not see those fares for the next number of years.”

Budget airlines such as Ryanair have enabled more and more people to travel abroad. However, the rising ticket prices will only compound the current cost-of-living crisis, and those already struggling could be priced out of the travel market.

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When it comes to the pressures on international travel, it appears that the cost-of-living crisis is going to pick up where the pandemic left off—with domestic travel numbers booming, but foreign travel under the pressure of hundreds of cancellations.

While the price increase will be relatively insignificant for some, others will have to reconsider their holiday plans in the coming years.

Weekend breaks abroad may become unfeasible as people pinch pennies to pay off sky-rocketing energy bills.

According to the industry forecast, UK international travel numbers will surpass pre-COVID levels by 2024, but rising ticket prices put this in jeopardy.

When asked in Q2 2022 consumer survey, 66% of UK respondents said they were either extremely or slightly concerned with the impact of inflation on their household budget. Travel may be the first thing to go to ease these cost-of-living problems.

The rise in ticket fares is being driven by a dramatic increase in fuel costs. Since the beginning of 2022, the price of jet fuel has risen by 90%.

Ryanair is the first budget airline to publicly declare the end of super low-cost flights.

However, fuel price inflation is not exclusive to Ryanair and will drive up overhead costs across the industry, negatively impacting not just Ryanair but competitors such as EasyJet and Wizz Air. And this is not good news for holidaymakers.

As shorter, city breaks become less affordable, we may see a shift towards families choosing to take fewer, longer trips to reduce their overall expenditure on flights.

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About the author

Harry Johnson

Harry Johnson has been the assignment editor for eTurboNews for mroe than 20 years. He lives in Honolulu, Hawaii, and is originally from Europe. He enjoys writing and covering the news.

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