Alexander Paterson's questions to Ryanair Holdings PLC (RYAAY) leadership • Q1 2025
Question
Alexander Paterson of Peel Hunt LLP asked about regional variations in fare declines and whether the booking lag for August and September was relative to a plan that was flat year-over-year, implying later bookings.
Answer
CEO Michael O'Leary reiterated that the fare weakness was network-wide. He clarified that the booking plan was for flat load factors on 9-10% higher capacity, and the lag was due to failed attempts to increase prices on close-in bookings, not a shift in the overall booking curve.