Summer getaways in jeopardy as flight prices rise 150%

However, these are outliers. Airline bosses have signaled that price hikes have only just begun. In an interview with the Financial Times, Ryanair boss Michael O’Leary warned of five years of rising flight prices as the industry battles soaring costs.

The higher prices are partly due to a mismatch between supply and demand: staff shortages mean that airlines simply cannot offer enough flights to meet demand, contributing to higher prices. price.

Mr Strickland said airlines were struggling to respond to the “tsunami of demand” because the pandemic had left them strapped for cash, which is now needed to fund a rapid increase in staff.

Ryanair stands out in this respect. He avoided mass cancellations in large part because he raised money in good times, which put him in a strong position once restrictions eased.

“Ryanair had a huge stack of money and they invested it where some airlines had none at all,” Mr Strickland said.

“Michael O’Leary told me personally that he grew up on a farm where the winters were harsh. He didn’t spend money he didn’t have to, you spent money. money when things were cheap and you sold your goods when prices were low.He hates debt.

“Rynair have always turned a crisis to their advantage. I admire what they have done. They never claim to be more than a bus service, but they provide that bus service quite reliably.”

Consumer group Which? These vacationers should travel outside of high season if they can to get a better deal.

Rory Boland, editor of Which? Travel said: “If you’re relaxed enough to avoid peak summer travel, you’ll not only get a better price, but you’ll be far less likely to experience disruption.”

Mr Strickland said the price increases were partly the result of low prices offered during the travel restriction period last year.

He says: “Last year people were still very hesitant to travel, we didn’t know if we could and airlines weren’t promoting the same number of flights. Quite often when we had a few breaks in quarantines and the restrictions, it was quite late and the airlines were trying to sell everything they could, and not at normal summer prices.

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