So says Ryanair CEO Michael O’Leary, who said families were particularly eager to travel across Europe despite the effects of the Russia-Ukraine war, higher oil prices or wider inflation. He told Bloomberg: “We believe that the peak months of summer travel, July, August and September, will be very strong.” Mr O’Leary warned that a sharp rise in oil prices could begin to ease demand by the end of the year, but insisted that any concerns about consumer spending would generally favor low-cost airlines such as Ryanair. He said: “If oil prices remain high, where we think things will get a little scary will be next winter. “You will have growing energy demand, European economies will be somewhat undermined by higher oil prices or concerns about energy supply, and we may be looking at the risk of recession.” Ryanair has offset $ 80 to $ 63 a barrel on its jet fuel requirements until March, helping keep prices low even as competitors are forced to raise fares in response to spiraling oil costs.
