Transportation
Ultra-Low Airfare Pioneer Bids Farewell to Ultra-Low Fares
- Ryanair to keep flat cash-to-debt ratio as aircraft costs rise
- CFO predicts further growth in Germany and Scandinavia
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Over the past three decades, Ryanair Holdings Plc built its model around cut-throat fares that ferried people across Europe for as little as the equivalent of a bus ticket. As travelers crowd back onto its planes following the pandemic, the Irish carrier has a word of caution for its customers: the days of ultra-low fares may well be over.
Speaking after the company reported near record-high profit, Chief Financial Officer Neil Sorahan said customers are willing to pay more for fares as bookings surge into the crucial summer period. That means that what was previously your typical €9.99 ticket may now cost twice as much, he said.