Ryanair set to cut winter fares to boost demand!

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Ryanair has been considered an excellent airline in previous years. However, due to the covid pandemic, it has taken a significant hit. Ryanair now estimates that they have lost a half year’s profit which could eventually lead to a loss of around 200 million euros, equivalent to 170 million pounds.

However, Ryanair is picking the business back up and is estimated to have a reduction in empty seats on planes. This percentage decrease would change from 20% to 10%. The airline still hopes to regain profits by March 2023 though, and enhance further demand. Ryanair’s CEO Micheal O’ Leary explained “We’re seeing a very strong recovery in short-haul travel across Europe and it is being led by Ryanair”. 

As a result of lowering the flight prices, Ryanair hopes to increase the demand for their flights, which is crucial after having a decrease in demand, such as during the recent school holidays. These proved that Ryanair was back on track with the flights, however, there is still much to recover after the 48 million tax loss over the last 6 months.

According to the BBC, Ryanair is courageous and lifted its target aims to a total of 225 million passengers by 2026. Eventually, Ryanair is aiming for the highest demands possible and is motivated to get back to normal daily flights after the lower demand from the COVID pandemic.