Ryanair Holdings PLC (LSE:RYA) boss Michael O’Leary has warned of higher fares and possible flight cancellations due to delays in Boeing aircraft deliveries.
This stems from production issues at Boeing's Spirit Fuselage facility in Wichita, Kansas, and subsequent hold-ups in Seattle, which have led to Ryanair expecting to receive fewer aircraft than initially planned between October and December.
Boeing has been in crisis mode since a dramatic mid-air blowout caused a door to fly off during an Alaska Airlines flight in January.
Loose bolts were subsequently found in other 737 Max 9 planes used by United Airlines, causing mass groundings and an FAA investigation.
"We don't really know how many aircraft we're going to get from Boeing," O'Leary told the press. "We're pretty sure we're going to get 30 to 40. We're reasonably confident we're between 40 and 45. And now we are far less confident we're going to get between 45 and 50."
Fares at the budget carrier could be up to 10% more expensive, he said.
"If we only get 40, by the end of March we will have to announce some minor schedule cuts," he added.
"There's a s**tshow going on in Seattle," the famously outspoken O'Leary said. "They keep giving us optimistic, broken promises. And then a week or two weeks later... it turns out that reality is worse."
Boeing said it “deeply regret(s) the impact this is having on our valued customer Ryanair".