Boeing Max Crisis Slows Airline Growth as Ryanair Pares Plan

The extended grounding of Boeing Co.’s 737 Max plane forced Ryanair Holdings Plc to scale back growth plans for next summer, putting the airline industry on notice that the crisis is starting to affect longer-term plans, Bloomberg News reported. With a return date for the Max still uncertain after two fatal crashes, Ryanair is likely to receive barely half of the 58 planes it was expecting for the 2020 peak schedule, the Irish company said Tuesday, estimating that the reduction will wipe 5 million passengers from its full-year tally. “Boeing is hoping that a certification package will be submitted to regulators by September with a return to service shortly thereafter,” Chief Executive Officer Michael O’Leary said in a statement. “We believe it would be prudent to plan for that date to slip by some months, possibly as late as December.” Read more

Location