Europe's LCC yields and air travel inflation reflect strong demand for all airlines
Europe's three leading independent low cost airline groups - Ryanair, easyJet and Wizz Air - have all reported financial results for the final calendar quarter of 2022.
Robust demand for air travel can be seen in the strength of traffic growth and yields for the three airlines in the period, and in their commentaries about 2023. European economies may be experiencing weakness, but this does not appear to be dampening consumers' desire to fly after the removal of two years of travel restrictions.
easyJet said that it had achieved record revenue booking days in Jan-2023; Ryanair also spoke of record bookings in the second week of the year. Wizz Air said that people might be prepared to sacrifice consumer items other than air travel. The leading European legacy airlines have not yet reported results for 4Q2022, but similar commentary on strong demand seems likely.
Strong demand and yields seem set to remain features of European aviation into the summer.
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