The extended grounding of Boeing Co.’s 737 Max planes forced Ryanair Holdings to scale back growth plans for next summer, putting the airline industry on notice that the crisis is starting to affect longer-term plans.
Ryanair’s announcement shows how a further extension to the Max grounding would have significant fallout for airlines, which draw up schedules about six months in advance. Air travel is particularly weighted toward the summer season in Europe, with passenger numbers typically surging from the Easter holiday, which starts April 10 next year.
Carriers will probably limit the expansion of the seat supply until late next year, said Helane Becker, an analyst at Cowen & Co. “We think capacity growth will remain muted until the end of 2020 so that the first ‘normal’ year for capacity growth will be 2021,” she said. Norwegian Air Shuttle has the greatest current exposure in Europe to the Max crisis, with 18 planes grounded, but agreed in April to postpone the handover of 14 more due in 2020 and 2021 and keep older planes for longer as it reins in capacity as part of a plan to resolve a debt crisis.
O’Leary, who warned last week that Ryanair might need to pare growth plans in light of the Max crisis, said his company can take delivery of only six to eight new aircraft a month, and is now planning to have 30 incremental aircraft for next summer.
Source: News Formal (newsformal.com)
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