Ryanair buys 175 jets in plan for €10 transatlantic flights

Ryanair marked its first ever attendance at an airshow by signing a deal to buy 175 Boeing 737-800 jets and hinting it may buy another 200 Boeing planes by the end of the year.

Ryanair chief executive Micheal O’Leary said that if the airline wanted to offer transatlantic flights for €10 it would need a fleet of at least 30 planes.

Speaking at the Paris Airshow, Mr O’Leary said he was considering ordering up to 200 Boeings 737 Maxs.

After signing the largest single order ever placed by a European airline — $15.6bn (€11.6bn) for 175 Boeing 737-800 jets — Mr O’Leary said he had a team in place working with Boeing on a deal for 200 more planes.

He said if the order was not at least 200 planes, “it wouldn’t be worth doing”.

The Ryanair team is expected to report by the end of September and it is possible the airline could place an order for the planes by the end of the year.

Ryanair’s interest in the 737 Max stems from its 19% greater fuel efficiency over its rivals, resulting in a reduction of 8% in costs per seat, according to Boeing.

However, Mr O’Leary hinted that the airline was giving serious consideration to rival Airbus’s A320, though Ryanair has not purchased any Airbus jets and the European planemaker has repeatedly dampened the idea.

Mr O’Leary said the company had a unique opportunity to crack the transatlantic market and offer passengers fares of €10 or $10 to fly to the US.

To take advantage of the opportunity the airline would require a fleet of 30-50 twin-aisle aircraft to serve hubs in both Europe and the US.

“There is an opportunity with the EU-US open skies to, on a fairly big scale, connect 15-20 European cities with 15 of the big US cities, almost from day one,” Mr O’Leary said.

© Irish Examiner Ltd. All rights reserved

More in this Section

‘Pay caps hamper recruitment’ according to Central Bank deputy governor

Eurozone's Single Resolution Fund may face month delay

Quinn Insurance collapse to cost another €912m

Women in business honoured by UCC's Alumni Achievement Awards

You might also like

Breaking Stories

More than €4bn expected to be spent on Cyber Monday

Amazon beats record sales on Black Friday

You won't believe how much cash shoppers are expected to splash by the end of Cyber Monday


BIG READ: Sexism and fear keeping women away from Hollywood's top jobs

Eat your way to an illness free winter

Butt out when Dad’s in charge and let him do it his way

5 tips for a seamless desk-to-dance floor transformation this festive season

More From The Irish Examiner