October 1, 2019 / 9:12 AM / 23 days ago

Ryanair to wait for aircraft cycle to turn before placing more orders - O'Leary

LONDON, Oct 1 (Reuters) - Ryanair will wait until the next turn of the cycle before it can place an order for more Boeing or Airbus jets at cheaper prices, Chief Executive Michael O'Leary said on Tuesday.

Ryanair is one of the biggest customers of Boeing's grounded 737 MAX aircraft, with 135 firm aircraft orders and 75 options, and O'Leary said the company's shift to a group structure could see the company take on Airbus jets into its fleet in the medium term.

"There will be opportunities there, but at the moment there are no pricing opportunities on aircraft. The MAX has been grounded, Airbus are pricing up, Boeing are pricing up because they've nothing to sell," O'Leary said at a Reuters Newsmaker event in London.

"I think we have to wait for the next turn in the cycle." (Reporting by Conor Humprhies and Tim Hepher; writing by Alistair Smout; editing by Louise Heavens)

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