Ryanair shareholders strongly backed Ryanair’s plan to place an order with Boeing for 300 new aircraft at the company AGM.
Michael O’Leary said: “We will take those aircraft over the next decade. It should help Ryanair to lower airfares and grow to 300 million passengers a year and it will also significantly lower our fuel consumption and our emissions. So it’s environmentally good, it’s good for traffic and tourism and hopefully it’ll be good for Ryanair shareholders as well.
According to Mr O’Leary, he expressed a lack of sympathy for residents living near Dublin Airport, most of whom he claimed also work for Ryanair. He mentioned that aircraft noise has significantly reduced over the years, comparing it to the time when Aer Lingus operated noisy 747s at Dublin Airport.
Mr O’Leary stated that the summer had been successful for Ryanair, with strong passenger numbers and fares. However, he anticipates softer pricing in the winter due to various factors such as higher mortgage bills and consumer price inflation.To keep people flying during the winter, Ryanair plans to adopt a more aggressive pricing strategy. Mr O’Leary expressed hope that if fares remain low during the winter, they can be kept flat for the following summer. However, he acknowledged that this depends on European demand and fuel prices. Ryanair has already hedged most of its fuel at $89.00 a barrel, which is currently lower than the trading price of jet fuel, according to Mr O’Leary