Economy

Ryanair posts €88m quarterly profits but Boeing MAX delays frustrate

Ryanair posts €88m quarterly profits but Boeing MAX delays frustrate”

Ryanair said on Monday that it swung back into profit in the third quarter of previous year thanks to a solid performance over Christmas but warned that its first Max 737 aircraft will not be delivered until at least September or October.

The Irish carrier, which operates more than 30 routes out of Liverpool Lennon Airport, saw quarterly profits rise to €88m, a big turnaround from a €66m loss in the same period in 2018. The aircraft has been grounded worldwide since March following two fatal crashes.

Ryanair is to Europe what Southwest represents in the USA - the Irish low-priced carried more people on the continent in 2019 than the traditional Lufthansa, IAG group (British Airways, Iberia and others) and Air France-KLM.

LONDON (AP) - The CEO of Europe's busiest airline, Ryanair, said Monday that his airline is interested in revising orders for Boeing 737 Max jets to get a new, larger version of the plane.

The Irish company does not expect the first MAX aircraft to be delivered until September or October at the earliest, but still expects the aircraft to be "gamechangers" when they are finally delivered.

Ryanair Boeing 737 MAX 10 New Order
The 737 MAX 10 is the largest variant offered by Boeing

Passenger numbers were 6% higher at 35.9m and the load factor - which gauges how full the planes are - ticked up to 96% from 95%.

Ryanair is one of the biggest customers of the MAX, with 210 now on order.

It said the late delivery of the "gamechanger" planes, which carry more passengers and burn less fuel, will transform the business over the next decade, but that, "due to these delivery delays, we won't see any of these cost savings until late in the 2021 financial year". Ancillary revenues continue to grow, but at a slower rate having annualised the cabin bag changes in November.

"Ryanair reports Q3 net profit... due to stronger christmas/New Year traffic", the Dublin-based carrier said in a statement. Ryanair blames price competition with Lufthansa subsidiaries in both Germany and Austria.

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