Ryanair sells 200's

[Runway 31]

From the Ryanair website. Seems to be a good bit of business.

RYANAIR SELLS BOEING 737-200 FLEET FOR $10M







Ryanair Holding plc, Europe’s No. 1 low fare airline, today (Monday, 4th October 2004) announced that it had sold its fleet of 20 Boeing 737-200 aircraft to Autodirect Aviation LLC (“Autodirect”) including spare engines and parts for a total consideration of $10m.

The 20 Boeing 737-200 aircraft were manufactured between 1980 and 1983 and 6 of the 20 aircraft have already been retired by Ryanair from operation. The remaining 14 will be delivered to Autodirect post their scheduled retirement between November 2004 and December 2005. The aircraft, spare parts and engines will be fully depreciated at their date of disposal and accordingly, there is no gain or loss arising on their disposal.

Autodirect is a US based corporation, which supplies used aircraft and spare parts to the airline industry.

Speaking on today’s announcement, Ryanair’s Deputy Chief Executive, Howard Millar said:

"We are pleased to have reached an agreement deal with Autodirect to sell our Boeing 737-200 aircraft on their retirement from the Ryanair fleet. By the end of next year, Ryanair will have one of the youngest aircraft fleets in Europe and be the largest operator of Boeing Next Generation 737 aircraft.

The move to an all new Boeing 737-800 fleet offers enhanced comfort for our passengers and ensures that Ryanair will continue to offer even more low fares to the 27.5 million European passengers we expect to carry this fiscal year. The all new aircraft fleet will also strengthen our position as the lowest cost airline in Europe”.

[Flightrider]

Humour me for a moment.

Ryanair Holding plc, Europe’s No. 1 low fare airline, today (Monday, 4th October 2004) announced that it had sold its fleet of 20 Boeing 737-200 aircraft to Autodirect Aviation LLC (“Autodirect”) including spare engines and parts for a total consideration of $10m.

The aircraft, spare parts and engines will be fully depreciated at their date of disposal and accordingly, there is no gain or loss arising on their disposal

So you have assets which have been fully depreciated, which implies that they are worth nothing as far as the company's books are concerned. You receive a "total consideration of $10 million" but still don't make any gain or loss? Being paid $10m for something which has a book value of zero ought to surely result in a gain of $10 million?

[bagpuss lives]

It's odd but I'll miss the sight, or more rather the sound, of the 200s as they roar off into the desert.

I presume, reading all of this, that they're to be broken up for parts?

[we_never_change]

Will any of the B738's be used as flying adverts such as some of the RYR B732's? The B737-200 in Jaguar colours looks rather nice. Then there are the ones that are painted to advertise Hertz car rental, Vodafone, Eirecell & Kilkenny.

WNC

[Mark Lewis]

One 738 is in the new Boeing house colours.

[SilentHandover]

As seen here. (http://www.airliners.net/open.file?id=680437&WxsIERv=Qm9laW5nIDczNy04QVM%3D&WdsYXMg=UnlhbmFpcg%3D%3D&QtODMg=U2VhdHRsZSAtIEJvZWluZyBGaWVsZCAvIEtpbmcgQ291bnR5IElud GVybmF0aW9uYWwgKEJGSSAvIEtCRkkp&ERDLTkt=VVNBIC0gV2FzaGluZ3Rvbg%3D%3D&ktODMp=U2VwdGVtYmVyIDIwMDQ%3D&BP=0&WNEb25u=V2lsbGlhbSBBbnRob255IC0gQUlSRlJBTUVT&xsIERvdWdsY=RUktRENM&MgTUQtODMgKE=VHVybmluZyBvbiB0byBhIHNob3J0ZW5lZCAzMUwgYXQgQnJ hdm8gNy4%3D&YXMgTUQtODMgKERD=Nzg1&NEb25uZWxs=MjAwNC0xMC0wMg%3D%3D&ODJ9dvCE=&O89Dcjdg=MzM4MDYvMTU3Ng%3D%3D&static=yes)

[eal401]

enhanced comfort for our passengers
As this is a quote from Ryanair, that bit made me laugh!!!!

[Re-Heat]

I agree Flightrider, it is a load of rubbish what they have written! Surely they mean that there is no adjustment to the fixed assets figure!

$10m profit results from the transaction though.

[Algy]

anyone know anything about Autodirect LLC? (Yes, I do realise I'm paid to know myself!)

[brabazon]

Algy

Autodirect LLC is a used car dealership it seems, see here:

http://stores.ebay.com/AutoDirect-LLC

Can't find anything about their Aviation side though? Is it another Ryanair scam?

[Cyrano]

Well, there's an Autodirect LLC here (http://stores.ebay.com/AutoDirect-LLC) which is a second-hand car dealer in Michigan, and knowing Ryanair... ;)

[edited to note: Brabazon, you beat me to it by a few minutes! ]

No, but seriously, www.411.com comes up with three firms in the US called "Autodirect": two used-car dealers and an advertising company.

Assuming it's not one of these, then there's a shy and retiring purchaser for the 737s out there somewhere...

[Boss Raptor]

Autodirect LLC is a holding company set up by a reasonably well known bunch of US based aircraft financiers/lessors to manage/facilitate this transaction, they have dealt with Ryanair before and are lessor to a number of European airlines

[brabazon]

Boss Raptor

Autodirect LLC is a holding company set up by a reasonably well known bunch of US based aircraft financiers/lessors to manage/facilitate this transaction

Well they're obviously not that "well known" if Algy, Cyrano and myself didn't know them. So where do we find more about them and this deal?

[Boss Raptor]

Well I know them and have done for some time (as I have about this transaction) but until they themselves choose to elaborate on their identity then I do not feel I can elaborate - sorry

I am now given the go ahead to post the following - it will be in Speednews on Friday

'Autodirect Aviation LLC is the result of a joint venture between Automatic LLC http://www.automatic.cc and Aerodirect Inc. http://www.aerodirect.com. We (they) are an aircraft leasing company and Aerodirect is a parts company based in the Chicago area.'

[DUBXH]

With reference to the 738 (EI-DCL) currently wearing the Boeing Dreamliner livery... Will this bird be staying like this when she enters service for FR? And to further we_never_change's question, does anyone know of any plans to paint the new 738's into "flying adverts" or will O' Leary be a bit protective of his new shiny girls ?

[Platinum206]

DUBXH;

I've been told that EI-DCL will remain in the Boeing Dreamliner Colours for approx 12 months.

However, who would foot the bill for repainting it to the Ryanair livery, doubt very much Ryanair will so who knows, could be like that for a good while.

P206

[Flame]

DUBXH;

My information says that it will remain in the livery for some considerable time

Boeing paid for the painting and will pay to repaint the aircraft in standard Fr livery as well.

this B7378 is apparently the 800th B737800, a different picture of it here...
http://www.planepictures.net/netshow.php?id=264903

As for painting any of the NG 737's as per the older 200's I believe there are no plans at present

[brabazon]

Given the current spat between Boeing/US govt and Airbus/EU it's maybe a good job that FR don't fly to TLS. Mind you CCF which isn't too far away - so I wonder if this a/c would fly there?