A Ryanair plane seen departing from Eindoven Airport in the Netherlands on August 11, 2022.
London CNN  — 

The travel industry has defied a global economic slowdown, enjoying record bookings and profits as pent-up demand following the pandemic fueled spending on air tickets and hotels. But that may be starting to change.

Ryanair (RYAAY), Europe’s largest airline by passenger numbers, warned Monday that high inflation and rising interest rates could dent appetite for air travel in the second half of the year.