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A Ryanair Boeing 737-800 aircraft. Photo: Nicolò Campo/LightRocket via Getty Images

Ryanair, Europe’s largest low-cost airline, reported a 21% drop in after-tax profits for the first quarter, blaming fierce price competition and higher fuel and staff costs. The airline also warned job cuts may be coming and future growth projections may be lowered because of issues with Boeing.

The state of play: Ryanair ordered 58 of Boeing's 737 MAX jets for summer 2020, but CEO Michael O'Leary said that order may change since all of the planes have been grounded following two fatal crashes: "It may well move to 20, it could move to 10, and it could well move to zero if Boeing don’t get their shit together pretty quickly with the regulator." The worldwide grounding of the MAX is now in its fifth month, and FAA regulators have yet to say when they will allow the plane to fly again.

Go deeper: Everything you need to know about the Boeing 737 MAX crashes

Go deeper

Updated 28 mins ago - Health

Texas to end all coronavirus restrictions

Texas Gov. Greg Abbott speaking at the White House in December 2020. Photo: Al Drago/Bloomberg via Getty Images

Texas will end its coronavirus restrictions next week with an upcoming executive order, Gov. Greg Abbot (R) announced Tuesday during a press conference in Lubbock.

Why it matters: After Abbott signs the new order, which rescinds previous orders, all businesses can open to 100% capacity and the statewide mask mandate will be over, though large parts of the state will remain under mask local ordinances.

Senate confirms Rhode Island Gov. Gina Raimondo as commerce secretary

Rhode Island Gov. Gina Raimondo (D). Photo: David L. Ryan/The Boston Globe via Getty Images

The Senate voted 84-15 on Tuesday to confirm Rhode Island Gov. Gina Raimondo to lead the Commerce Department.

Why it matters: The agency promotes U.S. industry, oversees the Census Bureau, plays a key role in the government's study of climate change through the National Oceanic and Atmospheric Administration, and evaluates emerging technology through the National Institute of Standards and Technology.

Updated 54 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Health: CDC director warns "now is not the time" to lift COVID restrictions — Exclusive: Teenagers' mental health claims doubled last spring.
  2. Axios-Ipsos poll: Americans' hopes rise after a year of COVID
  3. Vaccine: J&J CEO "absolutely" confident in vaccine distribution goals — Vaccine hesitancy is shrinking.
  4. World: China and Russia vaccinate the world, for now.
  5. Energy: Global carbon emissions rebound to pre-COVID levels.
  6. Local: Florida gets more good vaccine newsMinnesota's hunger problem grows amid pandemic — Denver's fitness industry eyes a pandemic recovery.