Posted on 02/01/2011 3:49:30 AM PST by sukhoi-30mki
Ryanair could buy planes from China or Russia
Low-cost airline Ryanair raised the prospect of buying new aircraft from China or Russia as it fell to a 10.3m (£8.8m) net loss in its third-quarter, hit by air traffic control strikes in Europe and the pre-Christmas snow.
By Alistair Osborne 6:30AM GMT 01 Feb 2011
Michael Cawley, deputy chief executive, said that having failed to agree a deal for 200 new planes from either Boeing or Airbus, the carrier's growth would slow dramatically over the next two years.
Ryanair expects passenger volumes to rise 11pc to 73.5m in the year to March 31, 2011, on top of a 14pc increase the previous year. For the next two financial years, however, growth slows to 7pc and 6pc as the carrier takes delivery of far fewer aircraft.
"If we can't get aircraft at the prices that make sense for us, given fuel prices and the fares we can earn from passengers, we will not expand beyond the level we are projecting of 300 aircraft and 83.5m passengers by March 2013," Mr Cawley said.
He said there was "no progress to report" in talks with Boeing and Airbus but added: "We're talking to everyone, the Russians and the Chinese as well." Asked if Ryanair would seriously place a major order with an untried supplier from China or Russia, Mr Cawley said: "We would do anything seriously that would save us money."
Failure to agree a new aircraft deal would see Ryanair, with 2.3bn of gross cash, pay another special dividend following last year's 500m payment to investors.
(Excerpt) Read more at telegraph.co.uk ...
Go ahead RyanAir, dig your own grave!
I suspect he knows what he's doing.
If you buy Russian or Chinese aircraft don't expect me to be one.
Although O'Leary has made outrageous "proposals" in the past including pay toilets onboard aircraft, to standing room only seating. (More publicity stunts than serious ideas)
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