Ryanair secures compensation deal from Boeing worth hundreds of millions of euros

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According to Irish newspaper The Independent, Ryanair has struck an agreement with Boeing worth hundreds of millions of euros to the Irish low-cost company in compensation for the worldwide grounding of the 737 Max jet.

The deal involves money already owed by Ryanair to Boeing: Ryanair has ordered 135 Boeing 737 MAX 200 jets, with an option for 75 more. The compensation will thus come ass a deduction from the money owed by Ryanair to Boeing for this purchase.

The Ryanair fleet currently consists of 455 Boeing 737-800 aircraft.

Ryanair was due to adding the first Boeing 737 MAX 200 aircraft to its fleet last month, but deliveries have now been pushed back to October or November. Nevertheless, Ryanair CEO Michael O’Leary still expects to have some flying over the winter, assuming the MAX recertification by safety authorities in the US (FAA) and Europe (EASA) goes according to plan.

O’Leary also said Ryanair expects to have 50 of the jets in service in time for summer 2020.

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