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Old 2nd Feb 2009, 21:45
  #3437 (permalink)  
Re-Heat
 
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I think this has more to do with the euro/dollar exchange rate than the supply/demand for aircraft.

So yes, with the exchange rate, Ryanair are getting less euros for their sold planes, but they are also paying less euros for their delivered planes.
2 points

(a) I believe they are hedged for the new purchases, so x-rate movements won't affect them for the cost

(b) Ryanair is a big arbitrage trader on aircraft prices - the missing €40m from 2008 to 2009 prices is a big hit (for which the employees will ultimately pay)...
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