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Ryanair's Michael O'Leary explains why flight prices will be 'drastically higher' next year

The price of flying is set to shoot up next summer.

Ryanair CEO Michael O'Leary said that a rise in passenger confidence and demand coupled with fewer flights will lead to a drastic rise in the cost of flight tickets.

O’Leary said: “I think there will be a dramatic recovery in holiday tourism within Europe next year. And the reason why I think prices will be dramatically higher is that there’s less capacity."

However, it's not just flying that's set to get more expensive, as hotel prices are also set to skyrocket, particularly in Europe.

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While next summer is set to see a surge in flying, Ryanair's winter schedule continues to run below full capacity.

Last month saw 11 million people fly with the airline, a month-on-month increase of 2 million.

Recently, Ryanair's Marketing Director Dara Brady called on the government to incentivise the Irish tourism sector, commenting that while Ryanair's Irish winter schedule is running at 60-70% capacity, their Italian roster is operating at full capacity.

 

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