Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Ryanair to trim flights in July, August but passenger target on track

Published 25/04/2023, 11:37
© Reuters. FILE PHOTO: Ryanair aircraft Boeing 737-8AS takes off from Riga International Airport, Latvia July 21, 2022. REUTERS/Ints Kalnins/File Photo

By Klaus Lauer

BERLIN (Reuters) -Ryanair will likely trim some flights in August due to delivery delays from Boeing (NYSE:BA) but there will be no material impact on customers, senior executive Eddie Wilson said in an interview on Tuesday.

Group Chief Executive Michael O'Leary last week said he would trim some high-frequency routes in July and Wilson said the same would happen in August but that Ryanair (LON:RYA) would "absolutely" hit its annual target of 185 million passengers.

Wilson said he was hopeful the number of planes affected by manufacturing issues would be in the single digits out of a fleet of over 550, but that Boeing had not yet provided a detailed delivery schedule.

"We'll be able to absorb this in terms of frequency reduction," said Wilson, chief executive of Ryanair DAC, the largest airline in the Ryanair Group.

"It won't be material, it won't affect people, because all the bookings aren't in for August," he added.

O'Leary described the delays by Boeing as "very disappointing", but Wilson said talks with the U.S. firm about a possible large new order would not be impacted.

Wilson was speaking in Berlin where he announced 520 weekly flights in its summer schedule, but said Ryanair was focusing growth elsewhere due to high airport charges.

He said Germany was "bottom of the class" with its short-haul sector still 20% below its pre-COVID traffic.

"There has been a substantial reduction in domestic traffic and prices have gone through the roof," Wilson said.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Wilson said he did not expect a repeat of travel chaos seen in Europe last summer as airports struggled to deal with a return to travel after pandemic lockdowns, but he said "it's not going to be perfect."

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.