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Ryanair aims to double number of passengers
from Monday 22 May 2023
by cityam
LUKE THOMAS
RYANAIR chief Michael O’Leary says the company will steal market share from European rivals, aiming to double passenger numbers to 300m per year within a decade.
O’Leary told the Financial Times: “I think the thesis that there’s no more growth in Europe is wrong [and that] Europe is completely tapped out, is wrong.
“As long as we don’t do something stupid — which is a daily challenge in this industry — we will continue to wipe the floor with every other airline in Europe.”
No airline has yet reached 300m passengers in one year, with industry experts sceptical about unbridled passenger growth given a basic lack of demand and broader constraints on the aviation industry through carbon taxes.
O’Leary did recognise a slowdown ahead, predicting Ryanair’s growth will moderate at four to five per cent a year. But he stuck to a forecast for record passenger numbers and this month agreed a $40bn (£32.1bn) deal with Boeing for 300 new shorthaul aircraft.
