No-frills airline Ryanair set a new record last month, carrying 20.5 million passengers – with fares down on 2023.
Its passenger total in August was up by 8% year on year but prices were 5% lower to stimulate demand.
Michael O’Leary, group chief executive, told Sky News that he does not think fares will return to 2023 levels until summer 2025.
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“Through 2024 we’ve seen the consumers spend under pressure. We’ve been under pressure,” he told the broadcaster.
“We’ve had to offer more fares to stimulate travel. And the good news is we’re carrying 8% more passengers.
“The bad news for our shareholders is we’re doing so at 5% lower fares than in 2023 but what’s good news for passengers is generally good news for our business.
“More people are flying with Ryanair this summer. But at lower air fares.”
Ryanair said its load factor for last month, as well as August 2023, was 96%.
For the year to August 2024, Ryanair passenger numbers reached 192 million, also up 8% on the rolling total reported in August 2023. The load factor for the year to August remained at 94%.
Meanwhile, budget rival Wizz Air reported that it carried a record 6.2 million passengers during August, up 1% year on year.
Its load factor reached 95.4%, compared to 94.1% last year, despite operated seat capacity being down 0.4% year on year because of the Pratt & Whitney GTF engine-related groundings.
For the year to August, passenger numbers reached 62 million, up 9.6%.
Wizz Air also launched its ‘All you can fly’ annual membership scheme, which sold out within 48 hours from launch.
Norse Atlantic also reported a record August with its highest load factor, passenger numbers and cargo volume carried to date.
The airline carried 191,291 passengers, 26% up year on year, with an average load factor of 87%, an increase of one percentage point year on year.
Bjorn Tore Larsen, chief executive and founder of Norse Atlantic, said: “August has been a truly record-breaking month for Norse Atlantic, with our highest-ever load factor, passenger numbers, and cargo volume carried since our inception.
“These achievements are a powerful testament to our value for money proposition and the dedication of our entire team. Additionally, by the end of the month of August the airline had already sold more segments in 2024 than across the entire year of 2023.”