Ryanair agrees $500m engine deal to enhance ‘operational resilience’

Ryanair has agreed a $500 deal to buy 30 fuel-efficient engines to enhance its “operational resilience”.

The power plants will be supplied by Franco-American aircraft engine manufacturer CFM International over the next two years.

They will support the budget airline’s fleet of 210 new generation Boeing 737s and additional B737 Max-10s due for delivery in 2027. 

The 30 new engines will “greatly increase” Ryanair’s pool of spare engines to more than 120.

The carrier plans to increase its fleet from almost 620 to 800 B737s all powered by CFM engines to expand annual passenger numbers to 300 million by 2034. 

Group chief executive Michael O’Leary said: “These latest technology CFM engines reduce fuel consumption and CO₂  emissions per seat by up to 20% when installed on our B737 Max fleet, which will further widen Ryanair’s cost leadership over competitor airlines in Europe.”

CFM president and chief executive Gael Meheust added: “This new agreement is another milestone in the long and successful partnership we have built with Ryanair. 

“We look forward to continuing to support Ryanair’s significant growth by providing them with industry-leading reliability and utilisation standards.”