While aviation is still in a deep crisis, Ryanair is investing heavily in new aircraft. With 75 Boeing 737-Max aircraft, which were grounded worldwide after two fatal accidents, the Irish budget pilot wants to strengthen its position after corona.
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Ryanair has placed a mega order with the American aircraft manufacturer Boeing. The Irish airline will purchase (an additional) 75 aircraft of the 737 Max, it announced today. This is a major boost for Boeing. Its showpiece, the 737 Max, was grounded worldwide after two planes crashed and 346 people lost their lives.
Both the American and European aviation authorities have recently given permission to fly again – in Europe this is a temporary approval. But in the aviation sector badly hit by corona, few airlines are financially strong enough to invest now. Except Ryanair. The Irish budget flyer already had a solid cash buffer before the corona crisis, and while the company is heading for a loss for the first time in 30 years, it was able to curb fixed and variable costs more than many competitors.
More economical and cheaper
“Ryanair is once again showing its confidence in the Boeing 737 family,” said Boeing CEO Dave Calhoun. “We firmly believe in this aircraft and will continue to work to regain the trust of all our customers.
Despite the disaster, Ryanair CEO Michael O’Leary has never hidden his love for the 737 Max. Following the new order, the company will have 210 units of the aircraft in its fleet. O’Leary has shown in the past that he is not afraid to invest in a crisis, and now Ryanair is taking advantage of the malaise to get the aircraft at a discount.
Ryanair not only wants to step out of the corona battlefield with a more economical and cheaper fleet – if aviation picks up again -, it is also increasing the pressure on its staff to swallow wage cuts. Anyone who doesn’t bow will face dismissal.
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