Ryanair’s cost cutting programme includes closures in Nuremberg and Stockholm SkavstaMAXIMILIAN HENSEL/ALAMY

Ryanair has admitted to further delays in the delivery of its Boeing 737 Max aircraft which the airline has claimed will revolutionise its finances.

But while investors will be disappointed that the short-haul aircraft, which are more fuel-efficient and carry more seats, will not be arriving in any numbers in the near future, the market welcomed Ryanair’s decision to launch a cost-cutting programme under cover of the 737 Max crisis.

Announcing that it expects to receive only ten of the 200 aircraft it ordered for next year’s summer season — when European airlines make their money — Ryanair said it would be closing down bases in Germany and Sweden and cutting capacity at other airports where its planes stay overnight.

Ryanair is Europe’s largest short-haul…