Ryanair could exceed 300 million passengers by 2034, according to group CEO Michael O’Leary. He said European airline capacity is expected to remain constrained in the short term and through the beginning of the next decade because of delays affecting the two main aircraft manufacturers and engine maker Pratt & Whitney.
O’Leary also said airline consolidation is accelerating. Carriers weakened by higher fuel prices face a difficult winter, with some European Union operators already in insolvency proceedings under Chapter 11, he said.
According to the CEO, the capacity constraints, combined with Ryanair’s widening cost advantage, strong balance sheet, order book for fuel-efficient aircraft and operational resilience, will support sustainable and profitable growth.
For the 2026-2027 financial year, O’Leary expects traffic to rise 3% to 214 million passengers. He said the airline’s lead in unit costs would continue to widen.
On fuel, Ryanair has hedged 80% of its requirements at $67 per barrel through next March. O’Leary said this would leave the group’s profit well protected from current volatility in kerosene prices.
Sources: ANSA Economia.