Ryanair 2010 Annual Report Download - page 93
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91
The table on the following page summarizes the delivery schedule for the Boeing 737-800 aircraft
Ryanair has purchased, or is required to purchase, under its past and current contracts with Boeing, including
through the exercise of purchase options. These Boeing 737-800s are identical in all significant respects, having
189 seats and the same cockpit and engine configuration. The table also provides details of the “Basic Price”
(equivalent to a standard list price for an aircraft of this type) for each of these aircraft. The Basic Price for each
of the firm-order aircraft to be delivered pursuant to the 2005 Boeing contract, as well as for each of the firm-
order aircraft that remained to be delivered and purchase options outstanding under the prior contracts at
January 1, 2005, will be increased by (a) an estimated $900,000 per aircraft for certain “buyer furnished”
equipment the Company has asked Boeing to purchase and install on each of the aircraft, and (b) an “Escalation
Factor” designed to increase the Basic Price of any individual aircraft to reflect increases in the published U.S.
Employment Cost and Producer Price indices from the time the Basic Price is set through the time six months
prior to the delivery of such aircraft. The Basic Price is also subject to decrease to take into account certain
concessions granted to the Company by Boeing pursuant to the terms of the contracts. These concessions take
the form of credit memoranda, which the Company may apply towards the purchase of goods and services from
Boeing or towards certain payments in respect of the purchase of the aircraft. These credit memoranda are
generally incorporated into Boeing’s final aircraft invoices and thus reduce the amount paid by Ryanair for
aircraft. Boeing and CFM International S.A. (the manufacturer of the CFM56-7B engines that power the Boeing
737-800 aircraft) have also agreed to give the Company certain allowances for promotional and other activities,
as well as provide other goods and services to the Company on concessionary terms. As a result of credit
memoranda received from Boeing, the effective price of each aircraft purchased in the past has been, and the
effective prices of aircraft to be delivered in the future are expected to be, significantly below the unadjusted
Basic Prices in the table on the following page.