Ryanair CEO Michael O’Leary says business model is fine after rival avoids slump in fares

CEO said easyJet’s much better fare performance in the April-June quarter did not indicate flaws in his airline’s strategy, but were due to its rival’s weaker prior year comparisons and slower traffic growth.

“They’re doing better than us on pricing but growing a lot less, they still haven’t recovered their pre-COVID traffic,” Michael O’Leary said in an interview with Reuters on Wednesday. “We are growing very strongly in lots of new markets and our pricing is, I would say, marginally weaker than theirs but we don’t think there’s anything fundamentally broken or wrong with the model.”

A boycott by some online travel agents was also a minor factor in the weakness of Ryanair’s average fares, O’Leary added. A number of agents have stopped selling Ryanair’s tickets, but others have agreed new deals to allow sales.

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