The Wall Street Journal: Ryanair warns its profits will be hurt by Boeing 737 Max grounding [MarketWatch]
Ryanair Holdings plc - American Depositary Shares, each representing five Ordinary Shares (RYAAY)
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Source: MarketWatch
Ryanair warns its profits will be hurt by Boeing 737 Max grounding LONDON — Ryanair Holdings PLC, Europe’s biggest budget airline and the region’s largest customer for Boeing Co.’s 737 Max jets, warned profit would be dented this year by the plane’s global grounding. The Irish carrier said Monday it faces higher-than-expected costs because of the suspension of Boeing BA, -0.63% Max deliveries after the jet suffered two fatal crashes in Indonesia and Ethiopia in less than five months. Ryanair was due to receive its first Max planes this spring, which would have provided more seats and greater fuel efficiency. The airline, which mostly operates older-model 737s, has labeled the new plane a “game changer.” Ryanair RYAAY, -1.94% RYA, -4.72% said the delay in getting the new planes, together with generally lower airfares and higher fuel costs, would limit profit this year to between €750 million ($837 million) to €950 million, or roughly flat on last year. Analysts expected about
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RYAAY
Analyst Actions
- 4/4/24 - Evercore ISI Group
RYAAY
Sec Filings
- 5/2/24 - Form 6-K
- 5/2/24 - Form 6-K
- 5/1/24 - Form 6-K
- RYAAY's page on the SEC website