Ryanair CEO Michael O’Leary was filmed at a press conference on Irish low-cost carrier Ryanair on Wednesday, March 2, 2022 in Brussels.
Nicholas Maeterlinck | AFP | Getty Images
Irish low cost carrier tBoeing 737 Max10 Jet Ends Negotiations on Substantial Orders Worth tens of billions of dollars in September 2021 after disagreeing with pricing. Executives from both companies will return to the table in the coming weeks.
Ryanair was Europe’s largest customer of narrow-body 737 Max, talking about new orders worth around £ 33 billion on up to 250 of the 230-seat large Max 10.
O’Leary told CNBC on Monday that Ryanair was “extremely disappointed” with Boeing’s performance from a commercial perspective over the past 12 months.
“Recently, I’ve seen some comments that Boeing’s management got lost, but I find it difficult to disagree with those feelings,” O’Leary said.
“They are lagging behind in the delivery of the aircraft. Despite the fact that they ended negotiations with them last September, Max 10 hasn’t heard anything from them.”
Boeing posted a net loss of $ 1.2 billion in the first quarter of 2022, reporting higher-than-expected quarterly losses and lower-consensus revenues.
The U.S. giant has regained demand for its rugged 737 Max, Service in late 2020 after being left behind after two fatal crashes.. However, production issues and delays in certification are dragging other aircraft programs.
“Boeing is certainly on the civilian side of the aircraft and needs a restart of control,” O’Leary said.
“They need to take control to resolve aircraft delivery delays and the production challenges facing Max, as well as Max 10, and 787.”
Boeing did not immediately respond to CNBC’s request for comment. Following a breakdown of the September negotiations, a Boeing spokesman said Ryanair was a “longtime partner” and Boeing “promised to support them.”
Ryanair posted a net loss of € 355 million ($ 369.06 million) in the 12 months to the end of March on Monday, but the Covid-19 pandemic still weighs heavily on overseas travel.
The company said it could not provide accurate future profit guidance due to the uncertainty surrounding the Ukrainian war and the pandemic, but hopes to return to “reasonable profitability” this year. ..