According to the head of Ryanair, prices for foreign holidays are set to rise in 2022.
Ryanair CEO Michael O’Leary told BBC Breakfast that fares will stay low this summer but could go up in 2022 as the number of seats will be 25% lower than before the pandemic, as the airlines did collapse or reduce their operations.
He said: “I have no doubt that prices will go up, especially during the peak of the bank holiday weekends, the travel season during the school holidays, but this will not affect bookings for the summer of 2021.”
“In 2021, prices will never be cheaper as all airlines fly with much fewer advance bookings than ever before due to travel restrictions.
“I think there will be great travel deals this summer. Visit the Ryanair website and book now.
“But in the summer of 2022 we will urge people to book very early because I think there will be fewer seats and prices will be higher.”
Mr O’Leary said the airline was “very optimistic about the next few months” after bookings tripled in the past six weeks.
He told BBC Breakfast: “The UK vaccination program has been extremely successful. We are up to 60% of the adult population who received their first dose.
“The European countries recognize that. They are starting to lift restrictions on incoming visitors to the UK.
“Portugal this morning. We are very confident that Italy and Greece will be put on this green list before the end of May and that Spain will come shortly after. “
Ryanair has reported a full year loss of € 815 million as traffic fell 81% from 149 million passengers to 27.5 million due to the pandemic.
However, the Ireland-based low-cost carrier said in a statement it expects to benefit from a “strong rebound in pent-up travel demand” by the second half of 2021.
With the help of the delivery of Boeing 737 “Gamechanger” planes and new bases in Billund, Riga, Stockholm, Zadar and Zagreb, growth before Covid is to be resumed in the summer of 2022.
Due to the pandemic, the financial year was described as “the greatest challenge” in the company’s 35-year history.
“There was a partial recovery in the summer of 2020 as the initial lockdowns subsided. However, a second wave of Covid-19 quickly followed in Europe in the fall and a third wave in the spring,” Ryanair said in a statement.
“This created enormous disruptions and uncertainties for both our customers and our employees, as they were exposed to constantly changing government guidelines, travel bans and restrictions.
“Ryanair responded quickly and effectively to this crisis and worked hard to support millions of customers with flight changes, refunds and changed travel plans.
“We have minimized job losses through agreed wage cuts and participation in government employment promotion programs while keeping our pilots, cabin crew and aircraft up to date and ready to resume service once normal is restored.”