00:00 It's Benzinga and here's what's on the block. Ryanair CEO Michael O'Leary warned that airfares
00:05 could rise by up to 10% this summer due to delays in the delivery of the new Boeing 737 MAX aircraft.
00:10 Ryanair had expected to receive 57 Boeing 737 MAX 8200 aircraft by March,
00:15 but now estimates only 40 to 45 may arrive in time for the peak season.
00:19 The delays will constrain Ryanair's capacity and force it to carry fewer passengers this year,
00:24 with forecasts revised down from 205 million to around 200.
00:27 Boeing is facing scrutiny over quality control issues following an in-flight incident in January,
00:32 and production has slowed as regulators inspect plans more closely.
00:35 Analysts said the delays will tighten capacity across Europe's aviation sector,
00:39 pushing average fares up 3 to 7 percent.
00:41 For all things money, visit Benzinga.com.
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