Ryanair sells 20 jets for €8.1m

RYANAIR yesterday sold off 20 aircraft that were more than 20 years old €8.1 million.

Ryanair is busy replacing the planes and has an order for 150 new Boeing 737s costing close to €25m per aircraft. It struck the deal for the jets with a list price of €35m in the wake of the September 11 attacks in 2001 when the airline industry was in a slump.

Yesterday, Ryanair disclosed that it had sold its fleet of 20 Boeing 737-200 aircraft to Autodirect Aviation LLC, including spare engines and parts for a total consideration of €8.1m.

The 20 Boeing 737-200 aircraft were manufactured between 1980 and 1983 and six of the aircraft have already been retired by Ryanair from operations. The remaining 14 will be delivered to Autodirect post their scheduled retirement between November 2004 and December 2005.

“The aircraft, spare parts and engines will be fully depreciated at their date of disposal and accordingly, there is no gain or loss arising on their disposal,” Ryanair said. Its shares closed at €4.11, up 6 cent, a 1.48% rise on Friday’s close.

Deputy chief executive Howard Millar said: “By the end of next year, Ryanair will have one of the youngest aircraft fleets in Europe and be the largest operator of Boeing next generation 737 aircraft.

“The move to an all new Boeing 737-800 fleet offers enhanced comfort for our passengers and ensures that Ryanair will continue to offer even more low fares.”