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  4. Europe short-haul aviation won't match pre-COVID peak before 2025 - Ryanair CEO
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Europe short-haul aviation won't match pre-COVID peak before 2025 - Ryanair CEO

LONDON (Reuters) - Europe's short-haul aviation market is unlikely to return to its pre-pandemic peak during the next two years due to high energy costs and the resultant economic...
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Europe short-haul aviation won't match pre-COVID peak before 2025 - Ryanair CEO © Reuters. FILE PHOTO: Ryanair CEO Michael O'Leary looks on during an interview with Reuters before holding a news conference on EU climate change policies, in Brussels, Belgium June 14, 2022. REUTERS/Yves Herman

LONDON (Reuters) - Europe's short-haul aviation market is unlikely to return to its pre-pandemic peak during the next two years due to high energy costs and the resultant economic shock, Ryanair boss Michael O'Leary said on Tuesday.

"I think that the overall market will not in 2023, 2024, return to pre-COVID traffic levels. They will probably lag behind," the Ryanair Group Chief Executive told a news conference in London.

Ryanair on the other hand "will grow stronger in a recession as we have in every other recession heretofore," he said, saying the airline's relatively high level of fuel hedging and low aircraft costs would allow it to undercut rivals.

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01-05-2024 10:45:17 (UTC+7)

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 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
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 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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