Ryanair fares could come down after company enjoys record profits

Budget airline Ryanair risks alienating its customers after hiking its prices and enjoying record profits, an expert has warned.

The firm saw its profits shoot up to €2.18billion (£1.89billion) in the six months to September 2023, despite fares increasing by almost a quarter on average.

Consumer trends analysts Vova Even, founder of e-commerce education group Vova Even, warned customers may feel “ripped off” as prices have increased while the quality of service has remained the same.

He explained: “When Ryanair’s tickets get more expensive while they’re making more money, it can look bad, especially when people are trying to manage their budgets.

“This could push people to look at other airlines, something I’ve seen happen in my own business when customers thought my prices were too high for what they were getting.”

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Looking at the possibility of bringing down fares, Mr Even said cheaper tickets could be on the horizon if the airline can bring down its costs.

He said: “More money means they can make their business run better and cheaper in the long run. They could buy more fuel-efficient planes or plan flights better to save money.

“These changes might not be evident immediately but can help reduce costs and could mean cheaper tickets or better flights later on.”

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