DTN News - BOEING NEWS: Boeing, Ryanair Finalize Order for 175 Next-Generation 737s

DTN News - BOEING NEWS: Boeing, Ryanair Finalize Order for 175 Next-Generation 737s

Source: DTN News - - This article compiled by Roger Smith from reliable sources Boeing
(NSI News Source Info) TORONTO, Canada - June 20, 2013:  Boeing (NYSE: BA) and Ryanair today finalized a firm order for 175 Next-Generation 737-800 airplanes valued at $15.6 billion at list prices. The order, originally announced as a commitment in March, is Boeing's largest ever aircraft order from a European airline. 

At a signing ceremony today at the 2013 Paris Air Show, Michael O'Leary, president and CEO of Ryanair, joined Ray Conner, Boeing Commercial Airplanes president and CEO, to finalize the historic deal.

O'Leary flew into the air show on one of Ryanair's 303 737-800s, which bore a special livery celebrating the agreement.

"Ryanair is proud to buy Boeing, who make great aircraft, and the 737-800 has been the foundation of Ryanair's recent successful growth due to its great engineering and phenomenal reliability," said O'Leary. "These 175 new airplanes will enable us to lower costs and airfares even further. They provide Ryanair with the additional capacity to exploit substantial growth opportunities that now exist as many of Europe's flag and regional airlines are restructuring and are reducing their short-haul operations."

"We are delighted to finalize this order. It is a testament to the value the Next-Generation 737 family brings to Ryanair," said Conner.  "As the most efficient, reliable, large single-aisle airplane flying today, the Next-Generation 737 has been and will continue to be the cornerstone of the Ryanair fleet. I could not be more proud to see the partnership between Ryanair and The Boeing Company extended for the years to come."

The Boeing 737-800 is the best-selling version of the successful Next-Generation 737 family. Known for its reliability, fuel efficiency and economical performance, the Next-Generation 737-800 is selected by leading carriers throughout the world because it provides operators the flexibility to serve a wide range of markets. 

Ryanair, which took delivery of its first 737-800 from Boeing in 1999, has the largest fleet of Boeing airplanes in Europe, operating over 1,600 flights per day from 57 bases on 1,600 routes across 29 countries, connecting more than 180 destinations.

Today's announcement brings the total number of 737s ordered to date to more than 11,000. Boeing currently has more than 3,400 unfilled orders for 737s.

Contact:
Fiona O'Farrell
Boeing Commercial Airplanes, Europe
+44 (0) 208 235 5664
+44(0) 7557 160 645
fiona.ofarrell@boeing.com

SOURCE Boeing

*Link for This article compiled by Roger Smith from reliable sources Boeing
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DTN News: Airlines News TODAY December 20, 2009 ~ Ryanair Pulls Out Of Talks For 200 Boeing Planes

DTN News: Airlines News TODAY December 20, 2009 ~ Ryanair Pulls Out Of Talks For 200 Boeing Planes * No plans to reopen talks with Boeing, other manufacturers

* To reduce capital expenditure in 2011-2012

* To return surplus cash to shareholders from 2012-2015

* Ryanair shares rise 5.8 pct; Boeing down 2 pct

*Source: DTN News / Int'l Media (NSI News Source Info) DUBLIN, Ireland - December 20, 2009: Irish airline Ryanair (RYA.I) said it had pulled out of talks to buy 200 aircraft from Boeing Co (BA.N) and would now trim investment from 2011 to cut costs and free up cash to pay to investors, lifting its shares. The low-cost carrier, close to being Europe's biggest airline, said on Friday it aimed to reduce capacity growth from 2011 and return surplus cash to shareholders from 2012-2015. Ryanair shares rose 5.8 percent, making the company the top gainer among leading European stocks .FTEU3. But Boeing, a component of the Dow Jones Industrial Average .DJI, was down more than 2 percent on the New York Stock Exchange. "It is appropriate to return these surplus funds to shareholders if we cannot use them to purchase aircraft on terms which enable us to meet our demanding return on capital targets," Ryanair Chief Executive Michael O'Leary said in a statement. Analysts said Ryanair would not be able to meet its long-term earnings target if growth slowed or ended after 2012, forcing it to eventually increase average fares. "Given the already low cost base, further significant unit cost savings will be difficult to deliver," U.K. firm Arbuthnot Securities said in a note to clients. The company had previously said a deal for 200 Boeing 737-800 aircraft for 2013-16 delivery was unlikely because the U.S. planemaker wanted to change conditions. In a statement, Boeing said it was disappointed that Ryanair chose not to expand its fleet but added that the low-cost carrier was still a "highly valued" customer as it currently operates more than 200 narrow-body 737s. "We worked to find a solution that met Ryanair's needs and also made good business sense for Boeing," said Andrew Davis, director of communications for Boeing Commercial Airplanes in Europe, said in a statement. "We look forward to working with Ryanair on future fleet requirements," Davis added. OTHER BOEING PLANES SET FOR DELIVERY Ryanair, which has thrived on consumers trading down in the recession, said its plan for receiving 112 Boeing aircraft from 2010-12 was unaffected, and it would continue to work with Boeing on the 48 deliveries scheduled for 2010. Ryanair's O'Leary, who has a penchant for driving hard bargains, said he had no plan to reopen talks with Boeing or any other aircraft manufacturer and would focus on maintaining Ryanair's strong traffic and new route growth into 2010. The latest move could signal that the era of fast-growing budget airlines is waning. "Low-cost airlines are now the mainstream way to fly in Europe," said Stelios Haji-Ioannou, founder of the no-frills EasyJet (EZJ.L), in a statement. "As such, it's getting difficult to find significant new passenger traffic which is profitable." Arbuthnot said that Ryanair's low cost structure makes turning in further significant cost savings difficult. Haji-Ioannou said that using shareholder money to fund "profit-less growth" by purchasing more planes from Boeing and rival Airbus (EAD.PA) was "no longer acceptable." "I look forward to companies like ours becoming 'normal' and starting to pay dividends," Haji-Ioannou's statement added.