Nov 4, 2019

Ryanair says risks ‘rising’ of more delays to Boeing 737 Max deliveries

Ryanair said the risk of further delay to the delivery of new Boeing 737 Max aircraft next year was "Rising" and again cut the number of planes it expects to receive as the fallout from two fatal crashes involving the models rumbles on. The airline has insisted the aircraft, which have 4 per cent more seats but burn 16 per cent less fuel, will have transformative effects on its costs and the business as a whole, but does not now expect to see any of the savings until 2021. Ryanair said it was trying "To avoid the unreliable optimism of some competitors" as it narrowed its full-year guidance for profits after tax on Monday to a range of €800m-€900m for the year to March 2020 from a previous outlook of €750m to €950m. At the midpoint, this would be a drop of 17 per cent from the previous year's results. Aside from the Boeing delivery issues, Ryanair said its full-year fuel will rise by €450m this fiscal year, while other costs will be up 2 per cent. Revenues rose 11 per cent as the passenger numbers increased.

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