The plants will probably be based in continental Europe and the first will open in 2028, using Ryanair’s financial strength to purchase spare parts early at a time of industry-wide shortages
International News via Reuters:
Budget airline giant Ryanair and jet engine maker CFM International have signed an agreement to support the planned opening of two Ryanair engine‑maintenance shops with a guaranteed flow of spare parts, the companies said on Tuesday.
The plants will probably be based in continental Europe and the first will open in 2028, using Ryanair’s financial strength to purchase spare parts early at a time of industry-wide shortages, Ryanair CEO Michael O’Leary told a news conference.
Wearing a French rugby shirt days after Les Bleus defeated Ireland at the Stade de France, the Irish airline boss joked about prices charged for parts by engine makers but acknowledged the industry needed to improve returns after years of losses.
“Beware the French bearing gifts; this is going to cost me,” the Irish airline boss said as he signed the 15-year deal.
Under the agreement Ryanair will purchase all its engine parts from CFM, without resorting to independent third-party shops, O’Leary said.
The value of the deal was not given but the companies said it involved “multi-billion” dollars.
Reporting by Tim Hepher, Gianluca Lo Nostro; Editing by Charlotte Van Campenhout and Louise Heavens
