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Wednesday, June 19, 2013

Paris: Ryanair, CIT Give Boeing a 737 Boost, Orders Top $18 Billion

By Woodrow Bellamy III

Boeing closed in on some of the early Airbus momentum at the Paris Air Show on Wednesday, announcing orders for more than 200 of its 737 family aircraft from Irish low-cost carrier Ryanair and leasing firm CIT Group worth a combined $18 billion. 
 
 
(Michael O'Leary, president and CEO of Ryanair--left--joined Ray Conner, Boeing Commercial Airplanes president and CEO, at a signing ceremony in Paris. Photo, courtesy of Boeing.)
 
Ryanair finalized an order for 175 Next-Generation 737-800s, originally announced as a commitment in March. The order, worth $15.6 billion at current list prices, is the largest ever aircraft order Boeing has received from a European airline. 
 
"These 175 new airplanes will enable us to lower costs and airfares even further," Ryanair CEO Michael O'Leary said, adding that his airline hopes to use the new aircraft to compete with European flag and regional airlines, many of whom are reducing their short-haul operations.
 
Also on Wednesday, CIT placed a $3 billion order for 30 of Boeing's 737 MAX 8 aircraft, in a deal comprised of 10 new aircraft and the conversion of 20 existing Next-Generation 737 orders into 737 MAX 8 orders.
 

CIT is also considering purchasing the 787-10 Dreamliner, the largest Dreamliner variant, launched by Boeing on Tuesday.  

Related: Aviation Today's Checklist

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