Ryanair CEO Thinks Boeing Management Needs A Reboot: CNBC

  • Ryanair Holdings plc RYAAY CEO Michael O'Leary following the FY22 results, told CNBC that the company had been "very disappointed with the performance" of Boeing Co BA from a commercial perspective over the last 12 months.
  • RelatedRyanair FY22 Loss Narrows, Expects To Return To Profitability In FY23
  • O'Leary called for a shakeup of management at the U.S. aircraft giant after delivery delays and a period of fractious negotiations between the two companies.
  • Ryanair is Europe's largest customer of the narrow-body 737 Max and had spoken of a fresh order potentially worth around £33 billion for up to 250 of the larger, 230-seat Max 10, the report noted.
  • RelatedBoeing Bleeding Orders To Airbus Due To Unrealistic Pricing, Says Ryanair CEO As Companies End Talks On Aircraft Purchase
  • "They've been late on the aircraft deliveries, we've heard nothing from them on the Max 10, despite the fact that we broke off negotiations with them last September."
  • "I saw some commentary recently that Boeing management has lost their way, and I find it hard to disagree with those sentiments," O'Leary stated.
  • "They need to get some management in there that's going to resolve the aircraft delivery delays and sort out the production challenges facing not just the Max, but also the Max 10 and the 787 as well." 
  • "Boeing needs a management reboot, certainly on the aircraft civilian side," O'Leary added.
  • Price Action: RYAAY shares are trading lower by 3.78% at $79.86 and BA lower by 1.18% at $125.70 on the last check Monday.
  • Photo Via Wikimedia Commons
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