Michael O'Leary, the Ryanair CEO, has signed a letter of intent for 175 Boeing 737 next generation aircraft
potentially a $15.6 billion order at current list prices, before any negotiated discount
The new fleet will significantly expand Ryanair operations giving the Irish cut price carrier some 400 aircraft, 75 of the new aircraft will be direct replacements for the existing Ryanair fleet of 305 737s.
“Ryanair is pleased to sign this agreement with Boeing to purchase 175 new 737-800 jets, which will expand our fleet to over 400 units, creating over 3,000 new jobs for pilots, cabin crew and engineers, while allowing us to grow our low-cost airline service by about 5 percent per annum over the next several years and take our traffic to 100 million passengers by March 2019," commented Mr O'Leary.
Ryanair aggressively developed the low-cost model originated by US Southwest Airlines, essentially replacing ticket revenue with a variety of revenue streams ranging from in flight shipping, hotel bookings, to internet gaming and car hire services.
JULIAN BRAY, Media, Aviation, & Travel Expert. Broadcaster & Journalist NUJ EQUITY UK Tel: 01733 345581 (isdn link on application)