Ryanair CFO Discusses Q3 Earnings, Boeing Delays, and 2025 Outlook on Squawk Box
Ryanair CFO Neil Sorahan recently sat down with the CNBC’s Squawk Box to discuss the airline’s Q3 earnings results, the impact of Boeing’s production delays on passenger traffic, and Ryanair’s outlook for the future.
Q3 Earnings
Sorahan began by highlighting the company’s strong Q3 earnings, which were driven by a record number of passengers and an increase in ancillary revenue. He noted that the airline had carried over 16 million passengers during the quarter, a 12% increase compared to the same period last year.
Boeing Delays
The conversation then turned to the ongoing production delays at Boeing, which have led to the grounding of the 737 MAX fleet. Sorahan expressed his frustration with the situation, stating that the airline had been forced to cancel over 1,000 flights as a result. He went on to explain that the airline was working closely with Boeing to mitigate the impact of the delays, but that it was difficult to predict when the MAX would be back in the sky.
2025 Outlook
When asked about Ryanair’s outlook for the future, Sorahan was optimistic. He noted that the airline was continuing to expand its fleet and was on track to carry over 150 million passengers per year by 2025. He also highlighted the company’s plans to launch new routes and enter new markets, particularly in Europe and North Africa.
Impact on Consumers
The production delays at Boeing are likely to have a significant impact on consumers, particularly those who had planned to travel on the 737 MAX. Many airlines, including Ryanair, have had to cancel or reschedule flights, causing inconvenience and frustration for passengers. It is unclear how long the MAX will remain grounded, and some analysts are predicting that the delays could continue into 2021.
Impact on the World
The impact of the Boeing production delays goes beyond the aviation industry, with ripple effects felt throughout the global economy. The aerospace sector is a major employer and contributor to GDP in many countries, and the delays are expected to result in billions of dollars in lost revenue. Additionally, the delays could lead to increased competition among airlines, as carriers look to fill the gap left by the grounded MAX.
Conclusion
Ryanair’s CFO Neil Sorahan provided insightful comments on the airline’s Q3 earnings, the impact of Boeing’s production delays, and the company’s outlook for the future. While the delays are causing significant disruption for the aviation industry and consumers, Sorahan remains optimistic about the future, with plans to expand the fleet and enter new markets. However, the full impact of the delays on the global economy is still uncertain and will be closely watched in the coming months.
- Ryanair reports strong Q3 earnings, carrying over 16 million passengers
- Boeing production delays force cancellation of over 1,000 flights
- Ryanair on track to carry over 150 million passengers per year by 2025
- Impact of Boeing delays felt throughout the global economy
