(Sharecast News) - Budget airline Ryanair on Monday cut its passenger forecast again, citing continuing delivery delays from Boeing.
Europe's largest low-cost airline said it now expected to carry 206 million passengers in the 2025/216 financial year, down from a previous estimate of 210 million. Ryanair in November lowered its forecast from 215 million.
"While Boeing 737 production is recovering from Boeing's strike in late 2024, we no longer expect Boeing to deliver sufficient aircraft ahead of summer 2025," said chief executive Michael O'Leary.
Boeing has struggled to meet orders amid a strike over pay last year and quality problems with aircraft quality after a door panel blew out mid-air on a jet 12 months ago.
The company also said post-tax profit for the third quarter came in at €149m, well ahead of the €60m forecast in a company-compiled poll of analysts, on the back of a 1% rise in average fares in the three months to December 31.
Ryanair said it was "cautiously guiding" after-tax profit for the year to March 31 of €1.55bn - €1.61bn.
Ryanair said it expected to take delivery of nine Boeing 737 MAX aircraft ahead of its peak summer season, fewer than expected. The final 29 aircraft of Ryanair's 210 MAX order will arrive by March 2026, lifting traffic to 215 million passengers a year later.
There was always likely to be some meaningful fall-out for airlines from the problems at Boeing and Ryanair has made these explicit as it lowers its passenger forecast.
AJ Bell investment director Russ Mould said attention would now turn to the crucial summer booking season. "Although, like kids impatient for chocolate eggs, Ryanair will be unhappy with how late Easter is this year given the implications for the current quarter."
Reporting by Frank Prenesti for Sharecast.com
