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InvestmentsRyanair says Boeing set 'delusionary' double-digit price rise By Reuters

Ryanair says Boeing set ‘delusionary’ double-digit price rise By Reuters

© Reuters. FILE PHOTO: Ryanair Chief Executive Michael O’Leary speaks throughout a Reuters Newsmaker occasion in London, Britain October 1, 2019. REUTERS/Peter Nicholls

DUBLIN (Reuters) -Ryanair on Monday stated that Boeing (NYSE:) was “delusionary” for imposing a double-digit price enhance for an order for the 737 MAX 10 throughout talks earlier this 12 months.

Europe’s largest low-cost service in September abruptly ended talks with the U.S. planemaker over an order of 737 MAX 10 jets, price tens of billions of {dollars} due to variations over price.

Speaking in a video presentation following the airline’s newest monetary outcomes, Group Chief Executive Michael O’Leary stated Boeing’s strategy was “delusionary”.

Boeing didn’t instantly reply to an emailed request for remark.

“Boeing out of the blue sought a… substantial double-digit price increase. I don’t understand the strategy. We think Boeing’s approach to this is delusionary,” he stated, describing Ryanair as Boeing’s solely important buyer in Europe.

“Ryanair I think was very close, in active negotiations for a follow-on order for MAX 10 but Boeing walked away from the discussions because they are looking for a price increase at a time when prices should be falling so Boeing can recover its production,” O’Leary stated.

O’Leary in September stated Ryanair had been in talks to order 100 of the 230-seat MAX 10 for supply from 2026 to 2030 with an possibility for 100 extra earlier than the talks had been cancelled.

Ryanair Chief Financial Officer Neil Sorahan advised Reuters in an interview on Monday that the airline’s administration had been “very patient people”.

“We’ll wait until the time is right and the price is right” for a Boeing aircraft order, Sorahan stated.

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