Saturday 24 March 2018

Ryanair multi-billion Boeing deal to create over 3,000 jobs

John Mulligan

John Mulligan

Ryanair has confirmed an order for 175 Boeing aircraft with a list price of $15.6bn (€12bn).

The carrier will replace about 75 of its existing aircraft with the new order, with the other 100 boosting its fleet size to just over 400 airplanes.

The Irish Independent revealed last week that the deal – the largest ever by Ryanair, or by any European carrier with Boeing – was due to be announced today.

Ryanair would have secured a deep discount on the 737-800 aircraft purchase. Some industry commentators reckon it could be as much as 50pc.

The airline said the order would result in the creation of 3,000 new jobs, including pilots, engineers and cabin crew. It will also enable Ryanair to boost its annual passenger traffic to over 100 million by March 2019. It’s on track to carry about 80 million in its current financial year.

Ryanair chief executive Michael O’Leary is due to hold a press conference in New York today with Boeing executives. The deal is also being announced as Taoiseach Enda Kenny visits US President Barack Obama in the White House today.

Mr O’Leary said the new aircraft would enable Ryanair to further lower costs and airfares.

“They provide Ryanair with the additional capacity to exploit substantial growth opportunities that currently exist as many of Europe’s flag carriers and smaller airlines are restructuring and reducing their short-haul operations,” he said.

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