Vaccine galvanizes Michael O'Leary: "Next summer, air traffic will be the same as before"
Michael O'Leary, the volcanic CEO of Ryanair, welcomed the news of the possible arrival of the Covid-19 vaccine [...]
Ryanair
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Michael O'Leary, Ryanair's volcanic CEO, enthusiastically welcomed The news of the possible arrival of the vaccine at Covid-19 by the end of the year.
With shares of the Irish lowcost company founded by O'Leary up 22% since the beginning of the month, it is no wonder about the statements made today by the histrionic CEO.
"I heard a lot of garbage coming mainly from legacy airlines: 'Before 2050 the world will not recover from this crisis' or 'Before 2025 volumes will never come back like they did in 2019...' Garbage!" he said.
The positions of O'Leary and his creature are well known, as is his visceral hatred of traditional carriers, and the state aid that has bailed out virtually all European airlines has only sharpened his desire for revenge.
"In 2021 and 2022, volumes will return fairly quickly because airlines, led by Ryanair, will reduce prices. The same thing hotels will do for both the summer and winter seasons. We will all discount our rates to try to recoup our losses."
"I think the recovery in volumes will be quite strong. As far as prices are concerned, it will take a longer period of time, three or four years, before they return to 2019 levels, but volumes no, they will grow faster and may even increase compared to last year."
According to Ryanair's CEO, traffic in summer 2021 will mark a recovery close to 80% compared to 2019 volumes.
The Irish carrier is anxiously awaiting the go-ahead (from safety authorities) for the 737 max, halted due to known issues that caused two tragic accidents, and is also ready to sign a new mega order to Boeing. Knowing Boeing's flair for business, it is a safe bet that O'Leary will not pass up the chance to exploit the American manufacturer's thirst for money in exchange for a discount on the purchase price of the new planes.
With the MAX (or 737/800) coming into operation, the company will have more seats and less 30% consumption than the current fleet, which will obviously mean more revenue and less expense per passenger carried.
Because O'Leary always wins in the end.
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