10th Jun 2025 12:09
(Alliance News) - Ryanair Holdings PLC on Tuesday said it has agreed to buy 30 spare LEAP-1B engines from CFM International in a USD500 million deal aimed at improving operational resilience and supporting its expanding Boeing 737 fleet.
CFM is a 50/50 joint venture between General Electric Co's Evendale, Ohio-based aircraft engine manufacturer trading as GE Aerospace and Paris-based aerospace and defence company Safran SA.
The engines, set for delivery over the next two years, will expand the European budget airline's pool of spares to more than 120. They will support both its current fleet of 210 Boeing 737 'Gamechanger' aircraft and future Boeing 737 MAX-10 deliveries from 2027.
Ryanair Chief Executive Officer Michael O'Leary said the purchase reflects a continued partnership with CFM and supports Ryanair’s efforts to lead in cost and environmental performance.
"These latest technology CFM engines reduce fuel consumption and CO2 emissions per seat by up to 20% when installed on our B737 MAX fleet," O'Leary said. "[This] will further widen Ryanair's cost leadership over competitor airlines in Europe."
CFM President & CEO Gael Meheust called the deal "another milestone" in the companies' long-standing relationship and praised Ryanair's growth strategy.
Ryanair currently operates 181 LEAP-powered 737-8-200 aircraft, with 29 more still to be delivered. It also holds an order for up to 300 Boeing 737-10 aircraft, all powered by LEAP engines.
The airline group aims to grow its fleet to 800 Boeing 737s and reach 300 million passengers annually by 2034. It currently flies around 206 million passengers per year on over 3,600 daily flights.
Ryanair shares were 0.9% higher at EUR24.47 in Dublin at midday on Tuesday. Safran was down 0.8% to EUR263.60 in Paris, while GE shares traded 0.2% lower at USD251.41 during premarket trading in New York.
By Eva Castanedo, Alliance News reporter
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