Home Business NewsBusinessAviation News Ryanair continues to peak interest for consumers despite warnings of increased fares

Ryanair continues to peak interest for consumers despite warnings of increased fares

by Thea Coates Finance Reporter
26th Feb 24 1:00 pm

As summer approaches, many of us eagerly anticipate embarking on our long-awaited holiday. However, this year, the dream of jetting off may come with a hefty price tag and unexpected hurdles.

According to Ryanair’s chief executive Michael O’Leary, those looking to get away this summer may be hit with higher fare prices due to challenges in the aviation industry.

The airline boss says that Ryanair’s ticket prices could work out up to 10% more expensive this summer, compared to last year.

It reportedly comes following a shortage of planes due to aircraft delays.

But it appears the combination of rising flight prices and aircraft shortages hasn’t stopped holidaymakers in recent months.

Despite warnings of disrupting summer travel plans for millions worldwide, budget airline Ryanair has seen a staggering 30.3 per cent increase in website traffic over January 2024 – according to industry data platform Alt Index. With an estimated 71,256,000 monthly web page visitors last month, the company also experienced a 15 per cent surge across a three month period.

Ryanair’s app downloads continued to surge throughout January, with a 15.3 per cent increase and an estimated 15,986 downloads – a significant increase compared to a total of 13,864 app downloads in December 2023.

Based on data provided by Alt Index, the airline’s price prediction also appears to be on the up with a 10.7 per cent increase expected across six months. The current forecast reveals the company’s price will jump from $141.21 to $156.38 by July 2024.

A spokesperson for AltIndex said, “While it’s not yet known what’s in store for the busy summer season, our data reveals a steady increase across Ryanair’s online platforms, indicating sustained consumer interest and engagement with the airline’s services.

“Despite the challenges, the company has experienced a significant 30.3 per cent increase in website traffic and a 15.3 per cent increase in app downloads, further reflecting the  convenience and popularity of Rynair’s platforms among travelers.

“Such stats reinforce how consumers are still favouring low cost carriers like Ryanair, especially given the current economic climate, and if the Irish brand can maintain this momentum, it’s no surprise then that the market forecasts things are on the up for Ryanair, with a 10.7 per cent price increase expected by July 2024.”

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