Ryanair Holdings - MAX delays mean slower growth in winter 2019 and summer 2020

Davy Research
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Ryanair will now revise its summer 2020 schedule based on 30 incremental aircraft, thus cutting the summer 2020 growth rate from 7% to 3%. With the delays of the MAX programme we consider this prudent and, while there will be a lot of choreography between regulators, we expect the aircraft will ultimately deliver savings to airlines and provide an opportunity for deals, with delays further tightening supply. Call at 10:30: +353 1 4311252; UK +44 333 3000 804; pin code # 68010001#.