airfoilmod has got it bang on!
Ryanairs business model is based on selling its older 737's to accommodate new ones arriving from Seattle, even though the older ones are only 5 yrs old.
All well and good in a thriving airline market with plenty of takers and not a great deal of spare capacity.
But the exact opposite is happening, Ryanair is struggling to pass on these airframes with no customers to pay top dollar for them and also with many other carriers retiring the same type of aircraft, the market value drops through the floor.
And with money scarce and banks not willing to lend to airlines, if an operator needs to buy an aircraft, he will go to the desert and buy a lot cheaper aircraft and not a 5yr old 737-800
There is your problem!!!!!!!!