Jul 22, 2024 - Economy
Charted: Ryanair feels the sting of stingy travelers
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Ryanair, Europe's most-flown airline, has a good news is bad news problem: Summer travel will be busier than last year, but its profits will be much lower.
Why it matters: Consumers who travel with the budget carrier are pushing back on higher fares.
Driving the news: "We are repeatedly seeing price resistance," CEO Michael O'Leary told analysts this morning. As CFO Neil Sorahan put it, customers were being "a little bit more frugal."
- U.S.-listed shares of the Ireland-based airline fell more than 15% today.
The big picture: In the U.S., overcapacity, not frugality, has driven prices lower for United and Delta.
