easyJet agrees to buy 100 Airbus aircraft

18th Jun 2013 07:32

easyJet has made a deal with Airbus to acquire 100 New Generation A320 Aircraft for delivery from 2017 to 2022.The low-cost airline announced that the aircraft was sourced at highly attractive price and greater percentage discount to list price than the company's existing Airbus contract.Chief Executive, Carolyn McCall, said Airbus was among many manufactures that competed hard for easyJet's business."Both Airbus and Boeing offered us new generation aircraft that met our requirements and offered greatly improved fuel efficiency," she said."Ultimately, Airbus offered us the best deal, and at a price with a greater discount to the list price than their landmark fleet purchase with easyJet in 2002."Most of the aircraft will be used to replace ageing aircraft as they leave the fleet and return to lessors. The remaining aircraft will be used to increase capacity seat growth of between 3.0% to 5.0% per annum. The deal is subject to shareholder approval. Total fleet acquisition and overhaul expenditure as a percentage of revenue is expected to fall from 18% in 2005 to 2012, to between 10% to 12% in 2018 to 2022.RD