Ryanair reveals ambitious expansion plans after placing biggest aircraft order
Ryanair has bought 175 Next Generation Boeing 737-800 aircraft in a deal worth nearly $15.6 billion, which is the largest ever for a European airline.
The airline said the deal, which must still be approved by its shareholders, would expand its fleet to more than 400 aircraft by the end of 2018.
Ryanair said the new aircraft would create more than 3,000 new jobs at its bases across Europe.
Approximately 75 of the new aircraft will replace some of Ryanair’s existing fleet of 305 Boeing 737s.
The remainder will allow the airline to grow by 5% a year over "several years", it said, to top 100 million passengers by March 2019.
Chief executive Michael O’Leary said: Ryanair is proud to buy Boeing, who have always made great aircraft and the 737-800 has been the cornerstone of Ryanair’s success due to its great engineering and phenomenal reliability.
" These 175 new airplanes will enable us to lower cost and airfares even further, thereby widening Ryanair’s cost and price leadership over other airlines in Europe. They provide Ryanair with the additional capacity to exploit substantial growth opportunities that currently exist as many of Europe’s flag carrier and smaller airlines are restructuring and reducing their short-haul operations.
"Ryanair has the largest fleet of Boeing airplanes in Europe, and today’s order will enable Ryanair to expand and grow by offering more competition, lower prices, and better choice across the continent of Europe. Ryanair is proud to be investing in high-quality US manufacturing and jobs."
The deal was struck following years of negotiations between Ryanair and Boeing. In 2011, the airline signed a memorandum of understanding with Chinese aircraft manufacturer Comac to develop a 200-seat variant of its 174-seat C919 jet. At the time, the move was seen as an attempt to pressurize Boeing into more favourable terms, although this was denied by O’Leary.
Boeing Commercial Airplanes president and CEO Ray Conner said today: "This purchase agreement is an amazing testament to the value that the Next Generation 737 brings to Ryanair.
"We are pleased that the Next-Generation 737, as the most efficient, most reliable large single-aisle airplane flying today, has been and will continue to be the cornerstone of the Ryanair fleet.
"Our partnership with this great European low-cost carrier is of the utmost importance to everyone at The Boeing Company and I could not be more proud to see it extended for years to come."
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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