Disclosed in Ryanair's 2010 Q3 results, released 01-Feb-2010, and available here:

http://www.ryanair.com/doc/investor/2010/q3_2010_doc.pdf

In the text on page 20 its says:



Boeing's unfilled orders report dated 31-Dec-2009 shows Ryanair with 102 737 orders outstanding, so the ten options exercised are additional orders.

Probably 10 of the 24 737-800s ordered by Unidentified Customer(s) on 18-Dec-2009.

Ryanair can't agree terms with Boeing for a NEW order of 200 737s, but it is exercising some of the options attached to it's existing contracts. The 2009 full year accounts show Ryanair with 80 options as of 31-Mar-2009, so there are 70 options left to exercise after these, should they wish to do so.

Dave

^
Hopefully these will be the last aircraft to roll off the Boeing line destined for Ryanair. Each option exercised represents a loss, not only to the cost of production, but also the opportunity cost of those frames going to other airlines.

Say what ???

Perhaps, you fail to recognise that they may represent "economy of scale" manufacturing opportunities to Boeing, who is quite happy to :

a) accept and fulfill the order .. and
b) are quite prepared to do so at the contract price / terms and conditions.

I don't see any indication of Boeing cancelling any of these yet to be fulfilled Ryanair options. Please enlighten us, if you have alternate information.

From memory, wasn't Ryanair to receive 50 or so 737s this year?

Ryanair did the deal with Boeing after Sept 11th, when there was real concern of slow downs and layoffs on the 737 line -

Ryanair to it's credit negotiated a deal that not even the largest aircraft lessors could have got. Boeing are selling these frames at a loss.

Plus, the fast and loss approach to safety and the general image that Ryanair projects is not to Boeing's liking, and is one of the reasons Airbus told them to F*CK OFF recently.

Boeing wouldn't bend over to Ryanair's demands either on residuals - and also told them to get lost, probably in a manner more polite than Airbus.

Your memory is good. See here on slide 18:

http://www.ryanair.com/doc/investor/presen...arter3_2010.pdf

Note that the data is in fiscal years, not calendar.

In the forthcoming fiscal year 01-Apr-2010 to 31-Mar-2011 the company will add 50 737-800s, and dispose of 10, giving a net increase of 40 and an operating fleet of 272 by 31-Mar-2011.

Dave