Ryanair announces €5 billion expansion plan in Spain
Following a meeting held at the Moncloa Palace on Friday (January 12th), between the Prime Minister of Spain, Pedro Sánchez, and Ryanair's CEO, Michael O'Leary, an investment plan of €5 billion by the Irish airline into the Spanish economy over the next seven years has been unveiled.
The investment is to increase Ryanair's presence in Spain, targeting a rise in passenger numbers from 55 million to an impressive 77 million. The airline also aims to broaden its reach by expanding its current roster of 730 routes to over a thousand by the year 2030.
To facilitate this expansion, Ryanair intends to base 33 new aircraft in the country and establish five new operational bases.
Key players, including the Minister of Transport and Sustainable Mobility, Óscar Puente, were present at the meeting, where both the government and the airline mutually agreed to collaborate on enhancing regional airports.
A press release from Moncloa emphasized that boosting air traffic at these regional hubs will contribute significantly to the development of territories and stimulate economic activity in the respective areas.
Pedro Sánchez underlined the significance of Ryanair's substantial investment in Spain, characterising it as a testament to "the stability and potential of the Spanish economy" and an expression of the "confidence of international markets and investors."
Ryanair, currently employing around 6,500 workers in Spain, holds a prominent position as the leading airline in terms of passengers carried. With a vast network comprising more than 700 routes to 29 countries originating from Spain, the airline's strategic expansion plan is poised to further solidify its position in the Spanish aviation sector.
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