Ryanair says travel recovery "strong but fragile"

STORY: Ryanair isn’t confident a travel recovery will last.

On Monday (July 25) chief executive Michael O’Leary described the current rebound as “very strong, but still fragile”

He says there are too many uncertainties to be sure about the outlook.

O’Leary cited rising fuel prices, geopolitical turmoil, and the risks of a resurgent health crisis.

The comments came as Ryanair reported a profit of $174 million for the latest quarter.

That was better than analysts forecast, but still well down on the same period back in 2019.

O’Leary says ticket prices for the summer period look like being up on that year though.

Now he says Ryanair is confident of seeing profits and margins get back to pre-crisis levels.

The company just isn’t sure whether that will come in 2023, or the year after.

Europe’s cost-of-living crisis might turn out to be a boon.

Ryanair reckons it could pick up customers looking for cheaper options.

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