RyanAir CEO Michael O’Leary warns that the days of cheap air travel may be a thing of the past.
Supply chain disruptions have sent energy costs soaring.Expensive flights are likely here to stay as we leave budget flying in the past. As we see rising oil and gas prices around the world, as well as facing energy shortages, the times of low-cost flying may well be left in the past as airlines worldwide put their prices up in line with rising costs and post-pandemic challenges.
Almost every industry has struggled to bounce back in a post-pandemic world, facing supply chain disruptions, rising energy costs, and fewer staff numbers. As companies fight to get back on track, none has been hit so hard, perhaps, as the aviation industry. There have been several failures this year from airlines trying to meet the growing consumer demand, with fewer employees than pre-pandemic and rising costs – from fuel to aviation equipment.
While Ryanair intends to maintain lower costs than several other airlines, the days of ultra-low-cost tickets are over. In addition, fears of uncertainty over the Russian invasion of Ukraine and the impact that will have to travel to Eastern Europe, as well as the larger picture of energy shortages and supply chain disruptions, have airlines hedging their bets to ensure they can face any challenges that come their way.
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