Cheap travel to help fuel fast recovery at Ryanair: Boss predicts passenger numbers will return to pre-crisis levels by next summer
Ryanair boss Michael O’Leary described the coronavirus crisis as the worst the airline industry has endured in its 100-year history
Passenger numbers in Europe will return to pre-crisis levels by next summer despite falling 97 per cent last month, Ryanair’s boss predicted yesterday.
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Michael O’Leary described the coronavirus crisis as the worst the airline industry has endured in its 100-year history, eclipsing the September 11 terror attacks that took place almost 20 years ago.
But he offered hope to shareholders who have seen Ryanair’s share price collapse by 30 per cent since the crisis began, by predicting a sharp recovery in short-haul air travel across Europe.
He insisted the lure of cheap travel will drag passenger numbers up to 2019 levels by next summer, and predicted restrictions on travel will be largely lifted across Europe by the middle of next month.
But yesterday the airline served up a reminder of the devastating impact of coronavirus on the industry, as it confirmed it carried just 400,000 passengers last month, down 97 per cent from 14.2m in the same month last year.
Speaking to the Mail before the figures were released, O’Leary said: ‘I think we’ll see a very rapid return to normal volumes because of lower prices.’