Ryanair on Tuesday warned it would cut flights and growth forecasts due to the grounding of Boeing’s 737 Max jet in the wake of two crashes that killed 346 people. The blow to passengers and shareholders comes at an already tough time for Ryanair, which is being buffeted by the risk of Brexit and intense competition among low-cost airlines. It said delays to deliveries of the 737 Max mean it must scale back flights and cut bases, with jobs clearly at risk. All the planes were grounded by aviation authorities after the crashes which saw 189 killed on an Indonesian Lion Air flight last October and 157 die on an Ethiopian Airlines flight in March. Ryanair said it “remains committed” to the jets and is confident they will be back in the air this year but admits “the exact date of this return remains uncertain”. It expects to take delivery of 30 of the planes by May 2020, fewer than the 58 originally planned. That will cut Ryanair’s 2020 summer growth rate from 7% to 3%. Traffic for the year to March 2021 will be 157 million passengers, down from an expected 162 million. Chief executive Michael O’Leary said: “This… Read full this story
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