DTN News: Ryanair To Order 300 Aircraft By Year-End ~ Reports

DTN News: Ryanair To Order 300 Aircraft By Year-End ~ Reports

*Sources: DTN News / RTTNews (NSI News Source Info) - June 28, 2009: Dublin-based low-budget carrier Ryanair Holdings plc (RYAAY: News ) is all set to order 300 more aircraft from Airbus or Boeing Co. (BA) by the end of this year, reports revealed on Saturday.

Ryanair currently operates a fleet of 190 Boeing 737-800 aircraft. The Irish airline apparently targets carrying up to 150 million passengers annually by 2017, up from 58.5 million in 2008.

On June 2, the airline posted a net loss of 169 million euros ($239 million) for the year ended March 31, 2009, compared to net profit of 390.71 million euros a year before, hurt by higher fuel costs and a large write down on its stake in Irish flag carrier Aer Lingus. The company's annual revenues were 2.942 billion euros, up 8% over a year earlier.

Ryanair reportedly expects to report profit in the current financial year with estimated earnings in the range of 200 million-300 million euros. Blaming the government's 10 euro tourist tax and high charges levied by airport operator BAA, last week, Ryanair said it "will freeze growth at its nine UK bases with immediate effect."

Ryanair is an Irish low cost airline, with headquarters at Dublin Airport and its largest operational bases at Dublin Airport and London Stansted Airport. Ryanair operates over 190 Boeing 737-800 aircraft on 830 routes across Europe and North Africa from its 32 bases. The airline has been characterised by rapid expansion, a result of the deregulation of the air industry in Europe in 1992 and the success of its low cost business model. Ryanair is the largest airline in Europe in terms of passenger numbers and the world's largest in terms of international passenger numbers. All aircraft in the Ryanair fleet have either been retrofitted with performance enhancing winglets or the more recent deliveries have them fitted as standard. Ryanair are expanding rapidly and will operate a fleet of 292 aircraft by 2012 with options for a further 10 aircraft to be delivered during that time. Ryanair claim to operate the newest, greenest and quietest fleet of aircraft in Europe.

The company has also announced that it would axe 650 more jobs in Ireland.

RYAAY closed Friday's trading at $27.64, down 1.57% on a volume of 303,492 shares.