Glasnevin born Willie Walsh, director general of IATA, claims that soaring airline fares in Europe have risen by less than broader inflation since 2019, which is a significant achievement for carriers.
The competitiveness of Europe’s air transport market has kept fare inflation at 16%, four percentage points lower than the increase in the consumer price index.
European air travel is recovering strongly, and it is expected to exceed pre-Covid levels in 2022.
Walsh points out that despite volatile jet fuel prices and increased workforce salaries, airlines have managed to keep fare inflation at a lower rate compared to rising charges by infrastructure suppliers.
Ryanair’s CEO, Michael O’Leary, recently mentioned that air fares across Europe are surging, driven by a lack of capacity despite strong demand. This marks the end of the low ticket prices introduced after Covid to encourage passenger travel.
