Ryanair signs 'multibillion dollar' spare parts contract with engine maker CFM

Safran CEO Olivier Andriès and Ryanair CEO Michael O'Leary share a laugh as an agreement was signed ith jet engine maker CFM International to supply Ryanair with guaranteed spare parts for two planned engine‑maintenance shops. CFM is a 50/50 joint venture between France’s Safran Aircraft Engines and the US firm GE Aerospace.

Ryanair has signed a "multibillion dollar" contract with jet engine maker CFM International to supply the airline with guaranteed spare parts for two planned engine‑maintenance shops, it said on Tuesday.

Ryanair plans to independently open two engine maintenance, repair, and overhaul (MRO) shops by 2029.  The maintenance shops will support its fleet of almost 2,000 Boeing 737 engines. "For the last 30 years, CFM has been maintaining all of Ryanair’s CFM56 engines under a long-term 'power by the hour' contract. However, from 2029 onwards, Ryanair expects to bring the maintenance of its engines in-house, and we are pleased to do so with the help and support of our partners CFM," said Ryanair chief executive Michael O'Leary.