One year ago Ryanair reported that it had sold 5 planes for 26.5 million euros each. Today Ryanair reported selling 8 planes for 21.2 millions euros each. This imples the 2nd hand value has dropped over 5 million euros per plane. Ryanair has loads of new planes on order and has to sell a dozen at least each year. I cannot remember how many of the planes it owns but we are looking at 100s millions of euros in lost value.
Ryanair are to cut more flights at Dublin and Shannon according to MOL. Planes that it take after the summer will have to wait till spring 2010 before they are needed. Ryanair are heading for big problems.