06:57 AM EDT, 09/12/2024 (MT Newswires) -- Ryanair Holdings ( RYAOF ) has revised its fare outlook through the end of the year, anticipating a potential 10% drop in ticket prices, Bloomberg reported on Thursday.

The airlines had previously expected a drop of about 5% in prices this winter.

The report said that the company attributed the price fall to ongoing consumer spending constraints after a rebound in travel post-pandemic.

For the current fiscal second quarter, Chief Executive Officer Michael O'Leary expects revenue per passenger to decrease in the mid-single digits, with uncertain prospects for Q3, according to Bloomberg.

Shares of the company fell nearly 2% in premarket activity.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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