Ryanair 2011 Annual Report Download - page 91

89
Aircraft Delivery Schedule
Deliveries and Scheduled
Deliveries in the Fiscal Year
ending March 31,
1998
Boeing
Contract
(Incl.
Options)
2002
Boeing
Contract
(Incl.
Options)
2003
Boeing
Contract
(Incl.
Options)
2005
Boeing
Contract
(Incl.
Options)
737-800
Disposals
Total No.
of Boeing
737-800
Aircraft
1999........................... 1 — — — — 1
2000........................... 4 — — — — 4
2001........................... 10 — — — — 10
2002........................... 5 — — — — 5
2003........................... 8 5 — — — 13
2004........................... — 18 — — — 18
2005........................... — 13 14 — — 27
2006........................... — 16 9 — — 25
2007........................... — 27 1 2 — 30
2008........................... — 21 — 15 (6) 30
2009........................... — 3 — 32 (17)(a) 18
2010........................... — — — 54 (3) 51
2011........................... — — — 50 (10) 40
Total as of
March 31, 2011 ..... 28 103 24 153 (36) 272
2012........................... — — — 25(c) (3) 22
2013........................... — — — 15 (10) 5
Expected Total as of March
31, 2013
.................
28 103 24 193 (49)(b) 299
Basic Price per aircraft
(unadjusted) (in millions) $47 $51 $51 $51
______________
(a) This includes the aircraft that was involved in the bird strike incident at Rome (Ciampino) airport in November 2008,
which has not been sold and remains the property of Ryanair. The Company will not return this aircraft to service.
(b) At June 30, 2011 the Company had sold and re-delivered a cumulative total 35 Boeing 737-800 aircraft. The Company
expects to dispose of 13 further aircraft before March 2013 (which, when added to the 35 completed disposals, and the
aircraft disabled by the bird strike and thus listed as a disposal, brings the total number of disposals to 49). To this end,
the Company may choose to dispose of aircraft through sale and/or non-renewal of a number of operating leases due to
expire between fiscal 2012 and fiscal 2013.
(c) On December 18, 2009, Ryanair exercised 10 options for aircraft due for delivery in September, October and November
2012. In addition the Company has deferred 15 aircraft deliveries due for delivery in September, October and
November 2010 to January, February, March and April 2012.
As can be seen from the delivery schedule table on the preceding page, delivery of the Boeing 737-
800s already ordered will enable the Company to increase the size of its summer schedule fleet by 22 additional
aircraft (net of planned disposals) in fiscal year 2012 and by five additional aircraft (net of planned disposals) in
fiscal year 2013 thereby increasing the size of the fleet, which is expected to total 299 at the end of that period
(assuming that the planned disposal and/or lease return of 13 such aircraft is completed on schedule). If traffic
growth proves to be greater than can be satisfied by these new aircraft, the Company may decide to retain some
of the 13 aircraft planned for disposal and or lease return.
Capital Resources. Ryanair’s long-term debt (including current maturities) totaled 13,649.4 million at
March 31, 2011 and 12,956.2 million at March 31, 2010, with the increase being primarily attributable to
financing of new aircraft. Please see the table “Obligations Due by Period” below for more information on
Ryanair’s long-term debt (including current maturities) and finance leases as of March 31, 2011. See also Note
11 to the consolidated financial statements included in Item 18 for further information on the maturity profile of
the interest rate structure and other information on, the Company’s borrowings.
The Company’s purchase of the 50 Boeing 737-800 aircraft delivered in the 2011 fiscal year has been
funded by a combination of financing solutions, including bank loans supported by Ex-Im Bank guarantees (34
aircraft), JOLCO’s (10 aircraft) and sale-and-leaseback financings (6 aircraft). At March 31, 2011, the majority