Budget Airlines Defy Travel Slowdown Concerns

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Despite industry-wide concerns of a travel slowdown, Ryanair and Wizz Air reported strong passenger growth in September.

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Ryanair saw passenger numbers rise 9 percent year-on-year to 17.4m, representing a slight dip on Augusts’ record 18.4m. It comes despite fears in the entire travel industry of an aviation slowdown, as airlines emerge from one of the busiest summer seasons on record, which saw many carriers post record profits and smash pre-pandemic levels of passenger traffic.

Low-cost airline Spirit issued a profit warning in early September, meanwhile JetBlue had already noted a “shift away” from domestic travel earlier in August. “Business was about 34 percent of our demand in 2019, it’s now down. So it is coming back much more slowly, which is sort of what we would have expected. The surprise is that leisure demand is defying gravity and I think we all think it’s only a question of time before that starts to slow down,” he said at the time.

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