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Ryanair (NR, BBB+, BBB+), easyJet (Baa2, BBB) CEO headlines

CONSUMER CYCLICALS

Ryanair CEO in media saying delivery delays will limit summer growth across the European airline industry - still stees robust demand. Is blaming both GTD engine issues (RTX) & Boeing issues. We still see equity analyst looking for +9%yoy growth in passengers no's for the carrier - helped by strong fleet growth.

  • Follows JetBlue (small $ issuer) announcing its cutting weaker performing routes yesterday on GTF engine issues (it was already guiding to capacity down low single digits yoy - which it left unch).
  • RYANAIR, EASYJET CEOS SAY CONSUMER TRAVEL DEMAND STILL STRONG
  • RYANAIR CEO SAYS INDUSTRY SUMMER TRAFFIC WON'T REACH 2019 LEVEL

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