London CNN —
Boeing’s production problems are reverberating through an airline industry starved for planes, making it harder for carriers to meet red-hot demand for travel and raising the prospect of even higher ticket prices.
On Wednesday, Ryanair (RYAAY) CEO Michael O’Leary explained why prices have further to climb. “If you have constrained supply (and) strong demand, I think it’s inevitable that you’re going to see air fares bump again this summer… between 5 and 10%,” he told CNN’s Richard Quest.
Europe’s biggest airline by passengers had expected to receive 57 Boeing planes this summer, but
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