Ryanair’s board approves an accelerated post COVID growth plan

Ryanair Boeing 737-8 MAX 8 (200) EI-HEZ (msn 62312) PAE (Nick Dean). Image: 953051.

Ryanair has made this announcement:

Based on proxy votes already received, Shareholders have approved all resolutions and will receive a detailed update on the Airline Group’s post-Covid recovery plans over the next 5 years. Subject to no adverse Covid developments, and vaccinations remaining at 90%+ across Europe, Ryanair will take delivery of 210 Boeing 737 Gamechanger aircraft over the next 5 years. These aircraft will deliver industry lowest costs, reduced emissions, and will enable Ryanair accelerate its post-Covid growth, as opportunities open up at primary and secondary airports all over Europe, particularly where legacy carriers have failed or reduced fleet sizes as a result of Covid and State Aid.

Ryanair Group airlines now expect to deliver more rapid traffic growth over the next 5 years, and have raised their 5 year growth forecast from 33% to 50%. As a result, Ryanair’s pre-Covid traffic of 149m is expected to grow to over 225m guests by March 2026, which is 25m passengers p.a. higher than the previous target of 200m.

Ryanair’s Michael O’Leary said:

The performance of the Boeing 737 Gamechanger aircraft this summer has exceeded our expectations. Operational reliability, fuel consumption, and lower CO2 emissions have so far exceeded guidelines with very positive passenger and crew feedback to these new, more fuel efficient, quieter aircraft.

With these new deliveries, Ryanair will open 10 new bases across Europe this year as we work with airport partners to help them recover traffic & jobs post Covid, and take up slot opportunities that are being vacated by competitor airlines who have collapsed or significantly reduced their fleet sizes.

Ryanair expects to create over 5,000 new jobs for pilots, cabin crew and engineers over the next 5 years, and the Group is excited to have, earlier this week, opened a €50m Aviation Training Centre in Dublin, with 2 further high quality training centers planned for Spain and Poland over the next 5 years.

The Covid-19 pandemic has delivered an unprecedented blow to Europe’s aviation and tourism industries. Only Ryanair has used this crisis to place significantly increased aircraft orders, to expand our airport partnerships, and to secure lower operating costs so that we can pass on even lower fares to our guests, so that together with our airport partners, we can recover strongly from the Covid pandemic and deliver higher than expected growth in both traffic and jobs over the next 5 years.”

In other news, Ryanair announced a new Winter route from Manchester to Grenoble as part of its UK Winter 2021 Schedule.

Ryanair will operate a weekly flight from Manchester to the popular French ski destination – Grenoble, from December 18 to the end of March 2022.

Top Copyright Photo: Ryanair Boeing 737-8 MAX 8 (200) EI-HEZ (msn 62312) PAE (Nick Dean). Image: 953051.

Ryanair aircraft slide show: