Ryanair Holdings Plc RYAAY revealed numerous Winter 2023 schedule reductions as a direct result of Boeing Company’s BA aircraft delivery delays from September to December.
Ryanair had anticipated the acquisition of 27 aircraft between September and December.
However, due to production hindrances at the Spirit Fuselage establishment in Wichita and compounded by Boeing’s repair and logistical setbacks in Seattle, Ryanair has revised its expectations to a mere 14 aircraft between October and December.
“At this early date, we do not expect these delivery delays will materially affect our full year traffic target of 183.5m, but if the delays worsen or extend further into the Jan to Mar 2024 period, we may have to revisit this figure and possibly adjust it slightly downward,” said CEO Michael O’Leary.
Ryanair said it is working with Boeing to accelerate deliveries from January to May 2024 to enter the Summer 2024 peak travel season with all 57 new Boeing aircraft deliveries as expected.
As a result of these delivery delays, Ryanair will make several adjustments to its Winter 2023 schedule this week.
“We are reducing the number of Charleroi based aircraft by 3, Dublin based aircraft by 2, and will reduce 5 aircraft across 4 Italian bases, including Bergamo, Naples and Pisa. There will also be aircraft reductions in East Midlands, Porto, and Cologne,” the company said in a release.
Price Action: RYAAY shares closed higher by 0.83% to $98.31 on Thursday.
Photo Via Company
Image and article originally from www.benzinga.com. Read the original article here.