Restructuring moves - including job cuts - have helped boost Ryanair shares, as it reported steady post-tax profits YoY at €5.4bn ($1.28bn) for H1 2019, despite saying the continued Boeing 737 Max grounding was hitting growth. The airline cut passengers forecasts, said it was cautious about fares and added that rising fuel prices and the grounding could force it to cut 900 jobs. Revenue for H1 was 11% up at €1.15bn after an 11% rise in passengers. The company said it had cut summer 2020 delivery expectations for the 737 Max from 30 to 20, with a risk of none being delivered.
Restructuring moves - including job cuts - have helped boost Ryanair shares, as it reported steady post-tax profits YoY at €1.15bn ($1.28bn) for H1 2019, despite saying the continued Boeing 737 Max grounding was hitting growth. The airline cut passengers forecasts, said it was cautious about fares and added that rising fuel prices and the grounding could force it to cut 900 jobs. Revenue for H1 was 11% up at €5.4bn after an 11% rise in passengers. The company said it had cut summer 2020 delivery expectations for the 737 Max from 30 to 20, with a risk of none being delivered.