Energy price shocks and a global recession will delay the recovery from COVID-19 this winter and over the next year, Ryanair chief executive Michael O’Leary has warned. Despite this, Ryanair will “move forward with its exclusive.”
Ryanair unveiled its extended winter schedule last week. The airline’s chief executive, O’Leary, warns that consumer-sector inflation is “nothing compared to the energy price shocks this coming winter.”
Those who are not worried about the impending recession and energy crisis are crazy. However, people will not stop flying.
“Many people have to fly for work, get to weddings or funerals, and in a recession, everyone becomes much more price sensitive. Probably the total number of travelers will decrease, but those who remain will undoubtedly turn to the carrier with the lowest fare – and this is us. The question is not whether people can afford to fly, but whether people can afford to fly with British Airways or Lufthansa?” concluded O’Leary.
“The market as a whole will experience difficulties. Commercial aviation in 2023 and 2024, alas, will not return to pre-pandemic levels. The recession will significantly weaken and slow down the overall recovery of passenger traffic. The return to normal operation will be very slow.”
“Every time a recession hits, Ryanair grows faster. This is not the first such year for us, already the fourth or fifth. We will be stronger, as we have been in every other recession.”
“We will grow as we are the most budget airline and we have brand new, economical Boeing 737 Max aircraft. We are very well insured against rising fuel prices, we will be even more efficient – such a market is favorable for us.”
Ryanair has launched its largest winter schedule ever, adding 21 new routes from 21 UK airports to its network.
In the winter of 2022/2023, the low-cost carrier will offer 440 destinations, including new “winter” cities such as Asturias, Catania, Klagenfurt, Leipzig, and Rovaniemi in Lapland.
Among other novelties, we note:
Liverpool – Rome;
Newcastle – Barcelona, and Cork;
Bournemouth – Lanzarote, and Venice;
Edinburgh – Grenoble, and Verona;
Manchester – Klagenfurt, Podgorica and Turin;
and six from Birmingham – Billund, Grenoble, Santander, Stockholm, Toulouse, and Venice.