Justin Wastnage / London
Low-cost carrier takes unusual step of advertising for owners with suitable Boeing 737s
Ryanair is looking for up to 50 more Boeing 737s on top of its outstanding orders to fill its long-term growth plans. The Irish low-fare carrier has taken the unusual step of placing advertisements in aviation magazines, including Flight International, as it trawls the market for owners looking to sell aircraft.
The airline reveals its first quarter financial results this week. They are expected to be higher than forecast as Ryanair finds itself cash-rich. With the global economic slowdown expected to see more 737s become available through capacity cutbacks, Ryanair is understood to be keen to exploit its strong financial position to acquire used 737s from a multitude of sources at competitive prices.
Chief executive Michael O'Leary says taking out an advertisement is unusual, but his is an unusual airline. "There are lots of people out there with two or three aircraft who we're hoping to find," he says. "Although we do have a preference for sister ships and other aircraft with common cockpits, we have found that's not always possible, even from one supplier." The advertisement calls for 737-300s,-400s and -800s preferably between seven and 14 years old.
Ryanair's all-737 fleet comprises 21 737-200s and 15 737-800s, with 13 -800s on order and 17 on option. These orders will only meet immediate requirements, says O'Leary. The airline predicts it will need at least 50 more between 2003 and 2005. Ryanair carried 7.4 million passengers last year and forecasts 9.2 million for this year and 12 million for 2002.
Contributing to the company's annual traffic growth of 25% are new routes and hubs. The airline has announced figures for its first continental European hub at Brussels' South Charleroi Airport, through which over 150,000 passengers passed for the first half of this year travelling to the UK and Ireland. The airline has added new routes to Venice and Pisa in Italy and to Carcassone in France.
Source: Flight International
