Ryanair Holdings PLC has held off payments to Boeing Co. for the delivery of 737 MAX jets and is looking to recover costs related to the delay, CEO Michael O'Leary said, reiterating his previous stance regarding the deferral, according to Bloomberg News.
"The best outlook is the first aircraft will come in January, more realistic outlook is end of February or March," O'Leary told reporters after the annual general meeting, Bloomberg said. The CEO had said in July that he expects the delivery "probably" in January 2020 at the earliest.
If the supply gets delayed over "March, April or May," the carrier may have to again reduce the number of planes expected to be delivered in its summer schedule and lower its growth projection further, the CEO said. However, the company anticipates receiving 30 aircraft in 2020, as planned.
The Boeing 737 MAX planes have been grounded since a fatal crash in March that claimed 157 lives.
O'Leary repeated that job cuts are on the way and any delay in new plane addition may raise the current figures. "The number has moved between 500 and 700. At the moment we are 500 surplus pilots," he said.
At the AGM, shareholders were split on the remuneration scheme for the company's key people. The resolution, which was narrowly approved by 50.5% votes, could reward O'Leary with a bonus of about €99 million, the Financial Times said.
