US$100m Contract with Lufthansa Airmotive Signed
Ryanair Holdings PLC
2 December 1999
RYANAIR SIGNS US$100m CONTRACT
WITH LUFTHANSA AIRMOTIVE
Ryanair has signed a ten year agreement with Lufthansa Airmotive Ireland for
the maintenance of the CFM56 engines which power the carrier's new Next
Generation Boeing 737 fleet. Ryanair has already taken delivery of five of
these 189 seater aircraft from a total order worth in excess of US$1 billion
dollars for 45 aircraft which are to be delivered over the next four years.
Commenting on the new agreement, Ryanair's Deputy Director of Engineering,
Michael Hickey, said: 'We are delighted to support Irish companies and Irish
jobs provided the product, quality, service level and prices are comparable to
the best in the industry and clearly with Lufthansa Airmotive they are. With
the signing of this contract Ryanair will continue its philosophy, established
over the last fifteen years, of maintaining our aircraft and engines to the
highest international standards which meet and exceed the requirements of the
European and Irish Aviation Authorities'.
'Ryanair has been an engine customer of Lufthansa Airmotive Ireland since 1994
when they acquired their Boeing 737-200 fleet', stated Conor O'Hara,
Lufthansa Airmotive Ireland Managing Director. 'In the competitive world of
jet engine maintenance, this is an extremely important contract for us in
developing our new product - the overhaul of the CFM56-7 engine. We also
welcome the opportunity it provides to develop further the excellent
relationship which we have established with Ryanair over the last five years'.
For reference: Ethel Power Pauline McAlester
Ryanair Murray Consultants Ltd
Tel: 3531-8121228 Tel 353 1-6614666
087-2208592 087-558300
Note to Editors
Ryanair is Europe's largest and longest established low fares airline. In
1999 the airline expects to carry over 6 million scheduled passengers on its
35 low fare routes between the UK, Ireland and Continental Europe. This year
Ryanair was voted 'Best Managed National Airline' in the World. Ryanair
currently employs in excess of 1,200 people. The Company is listed on the
Irish, UK and Nasdaq Stock Exchanges. Ryanair has its own web site and it can
be accessed at www.ryanair.com.
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