Aviation

Strong demand and severe limits on capacity will drive airfares up in 2024

Pent-up demand for travel will clash with severe restraints on airlines and airports leading to higher prices for consumers

Ryanair chief executive Michael O'Leary confirmed it was declaring a maiden ordinary dividend of €400 million. Picture: Getty

The aviation industry looks set for another strong summer in 2024, as capacity constraints keep fares high, according to a report from analysts at Bernstein.

In 2023, Ryanair, Europe’s leading short-haul carrier, reported a 59 per cent increase in profits to €2.18 billion in the six months to September, on the back of record summer traffic.

The airline recorded a 30 per cent hike in revenues to €8.58 billion during the period, as traffic rose ...