About Michael O'leary
Michael O'Leary reported a record full-year profit after tax of €2.26 billion for Ryanair, with traffic growing 4% to 208.4 million passengers. He stated that Ryanair has hedged 80% of its jet fuel requirements through March 2027 at approximately $67 per barrel, describing the company as the "best insulated, most hedged airline in Europe" amid rising oil prices. O'Leary noted that Ryanair's share price had declined despite the strong results, attributing this to market concerns about the airline sector.
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Source: AI-verified profile updated from Michael O'leary's recent appearances.
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Michael O'Leary0:00
I think if you look at the relationship we built with Boeing over the last, since I think our first order for new aircraft at Boeing in 1996, you know, 90 plus percent of all those aircraft have been delivered on the delivery day. You know, Boeing has been challenged in the last number of years, firstly with the MAX grounding and then with COVID, as our entire industry has been challenged. But I think Boeing's record, if you look at our fleet today of 540 aircraft, we take delivery of another 110 aircraft over the next two years, more than 90, 95% of those aircraft have been delivered bang on time. So we have a high degree of confidence that Boeing will work its way out of this. I think Boeing deserves great credit now. I was publicly very critical of Boeing in the autumn of last year over these delivery delays. I think Dave and Stan, and I think particularly the teams in Wichita and in Seattle, have done a phenomenal job catching up on these deliveries. And there have been supply chain challenges, there have been huge COVID issues, you know, in places like Seattle where you have a large production facility. And I think, you know, our record over a 20-30 year of the Boeing relationship has been great, aircraft being built to very high quality and being delivered on time. So I have nothing but confidence, particularly since we're not the delivery customer in this case. We will not be taking the first of these aircraft. I'd be very happy to take the first of these aircraft if Calhoun would get me some. But I have no doubt that by the time we get to 2027 through 2033, all of these aircraft will deliver on time. And if Boeing can deliver a little bit earlier than that, we'll take them earlier. And I think you know, I think we should also recognize, while we have our friends from GE and CFM here in the room, the engine manufacturers have faced huge Herculean challenges in the last year or two also delivering on those supply, fixing those supply chain challenges. And they are delivering phenomenal engines. I mean, we've now been an operator of the A200 for the last three years. It is incredible. You know, we can deliver 4% more passengers and burn 16% less fuel. And I think it's not widely recognized outside the airline industry what the new technology is delivering in terms of sustainability and delivering on an environmental agenda. I know of no other area or field of transport, whether it's marine shipping, road transporters, delivering this technological revolutionary change. And I think our engine supplier partners deserve great credit in that as well.
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Unknown2:26
Totally agree. Only perspective I might add is that Michael does know what he's talking about. And a lot of comments are made about our public commentary, the meetings that we have with respect to delivery promises and kept and watching the supply chain. They are usually held in our factory with Michael, president, and Neil, president, and a team of people present who watch every airplane move through, and they watch the progression. They know what they're talking about. They see the supply constraints. They don't like them, and neither do we. But we're working transparently, and he knows what he's talking about.
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Michael O'Leary3:01
Okay, children wouldn't necessarily agree with you, but nevertheless.