Michael O & # 39; Leary, CEO of RyanAir.
Anjali Sundaram | CNBC
Ryanair CEO Michael O & # 39; Leary warned Monday that the extended Boeing 737 Max grounding could lead to job cuts and other low cost carrier challenges.
Boeing has stopped delivering the jet aircraft, which means airlines like the European budget company Ryanair cannot expand their operations as they had hoped. Regulators have not said when they want to let the planes fly again. Ryanair executives expected 58 of the planes in the summer of 2020, said Leary on a revenue call.
"It may well go to 20, and it can move to 1
Including Airlines The European budget company Ryanair is struggling with lost revenue since the fuel-efficient Boeing jet lines were grounded in mid-March after the second of two fatalities that killed 346 people.
Ryanair is not the only airline concerned about the grounding, now in its fifth month, and messing up next year. Southwest Airlines, operating an all-Boeing 737 fleet, said last week that they are planning to take the new Max aircraft out of schedule until early January.
Boeing did not immediately respond to a request for comment.