Ryanair: cuts guidance due to delays in Boeing deliveries
(CercleFinance.com) - Irish budget airline Ryanair cuts its summer 2020 growth rate on Tuesday due to uncertainties surrounding the deliveries of the Boeing 737 MAX.
Europe's biggest low-cost airline said it is now planning summer 2020 schedules based on taking up to 30 Boeing 737 MAX aircraft deliveries up to end of May 2020, less than the 58 aircraft originally scheduled.
Ryanair said it expects the Boeing 737 MAX aircraft to return to flying service before the end of 2019, after the jet was grounded after two crashes involving the aircraft.
Still, the airline cut its summer 2020 growth rate forecast from 7% to 3%, meaning full-year traffic growth for the year to March 2021 has been lowered from 162 million passengers to 157 million passengers.
Despite the harsh outlook, Ryanair shares rose by 2 percent in early trading. They had lost 15% over the past three months.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Europe's biggest low-cost airline said it is now planning summer 2020 schedules based on taking up to 30 Boeing 737 MAX aircraft deliveries up to end of May 2020, less than the 58 aircraft originally scheduled.
Ryanair said it expects the Boeing 737 MAX aircraft to return to flying service before the end of 2019, after the jet was grounded after two crashes involving the aircraft.
Still, the airline cut its summer 2020 growth rate forecast from 7% to 3%, meaning full-year traffic growth for the year to March 2021 has been lowered from 162 million passengers to 157 million passengers.
Despite the harsh outlook, Ryanair shares rose by 2 percent in early trading. They had lost 15% over the past three months.
Copyright (c) 2019 CercleFinance.com. All rights reserved.