Ryanair is expected to increase flight fares in the coming summer. The airline has posted a quarterly loss of 96 million euros which is approximately $107 million for the last three months of CY2021.
During the same period in 2020, Ryanair had posted a loss of 306 million euros which means that it has been able to narrow the losses.
The demand for air travel is not expected to boom anytime soon with new variants of COVID-19 surfacing at regular intervals. Ryanair is expected to post a loss of about 250 million euros - 450 million euros during the quarter ending March 31, 2022.
According to a CNBC report, Michael O’Leary, Chief Executive Officer (CEO) of Ryanair said, “While recent bookings have improved, following easing of travel restrictions, the booking curve remains very late and close-in, so Q4 traffic requires significant price stimulation at lower prices.”
In the meantime, Ryanair is not looking to purchase new aircraft from Boeing anytime soon. The airline had abruptly ended its ongoing conversation with the aircraft manufacturer during September last year when differences came between the companies in the pricing of the Boeing 737 Max jets.