Ryanair may cease growth after 2012, then rationalise routes, pay dividends & build cash reserves

Ryanair CEO, Michael O'Leary, in an interview with the Financial Times, stated the LCC does not need to secure an agreement with Boeing for additional aircraft for the post-2012 period (when the carrier is expected to reach its 90 million passengers p/a target), and that the carrier could instead shift to a strategy of rationalising routes, building up cash and paying dividends to shareholders (Financial Times, 01-Nov-2009).

Ryanair: "If we order no more aircraft the fleet will be at 300 aircraft by 2012. We may not grow at all after 2012. [Not growing] would allow us to weed out some of the poorer routes, some of the poorer aircraft bases, and switch those aircraft to new opportunities, while building up cash and distributing some money to shareholders," Michael O'Leary, CEO. Source: Financial Times, 01-Nov-2009).