By Adria Calatayud

Ryanair Holdings PLC (RY4C.DB) warned Wednesday that it will cut jobs and close two further bases as delays in Boeing Co. (BA) 737 MAX aircraft are expected to slow its traffic growth.

The budget carrier said it will close its bases in Nuremberg, Germany, and Sweden's Stockholm Skavsta airport and cut summer capacity in a number of other existing bases.

Ryanair said it has revised its schedule for the 2020 season based on receiving 10 MAX aircraft rather than 20 as planned. As a result, the company now expects carry 156 million passengers in the year ending March 31, 2021 compared with 157 million previously.

"We are continuing to work with Boeing, our people, our unions and our affected airports to minimize these capacity cuts and job losses," Ryanair DAC Chief Executive Eddie Wilson said.

Write to Adria Calatayud at adria.calatayud@dowjones.com

(END) Dow Jones Newswires

December 04, 2019 07:33 ET (12:33 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
Ryanair (LSE:RYA)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Ryanair Charts.
Ryanair (LSE:RYA)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Ryanair Charts.