Will Ryanair increase summer prices?
Ryanair, one of the airlines carrying the most passengers in Europe, predicts profit in 2022. The company is said to increase prices this summer. With a turnover of 4.8 billion Euros, the Irish company announced a loss of 355 million Euros for the 2021-2022 fiscal year at the end of March.
Financial situation of the company
Carrying 97 million passengers in the 2021-22 fiscal year, the company hopes to increase its 2019 figure of 149 million to 165 million passengers for the 2022-23 fiscal year. The company management wants to keep its prices a little higher in the summer of 2022.
The increase in oil and fuel prices will lead to unbudgeted cost increases for the company. On the other hand, Ryanair reduced its debt from 2.3 billion Euros to 1.45 billion Euros in the last financial year.