Ryanair wants to invest 5 billion in Spain

by Lorraine Williamson
Ryanair to invest in Spain

Spanish Prime Minister Pedro Sánchez and the CEO of Irish low-cost airline Ryanair, Michael O’Leary, met at the Moncloa Palace on Friday. The CEO presented his plans to invest €5 billion in Spain over the next seven years.

The meeting was also attended by the Spanish Minister of Transport and Sustainable Mobility, Óscar Puente. Sánchez emphasised the importance of the Irish airline’s commitment to Spain. It reflects not only “the stability and potential of the Spanish economy” but also the confidence of international markets and investors.

Sánchez also considers the plan as “support for the strengthening of an important sector such as tourism,” for which record figures are still expected for 2023, as the Spanish head of government reported.

Also read: Spain is the European country with the highest air traffic in 2023

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During the meeting, the President of the Government and the CEO of Ryanair agreed to work on strengthening regional airports. The reinforcement of this type of airports, with an increase in air traffic, will boost territorial development and economic activity in the area, according to a press release from Moncloa.

Plans for Spain

Ryanair foresees a growth in Spain from the current 55 million passengers to 77 million, an increase in the number of routes from 730 to more than 1,000 in 2030, with 33 new aircraft at Spanish bases and the opening of five new bases.

Ryanair has around 6,500 employees in Spain and is the market leader in terms of the number of passengers carried with more than 700 routes to 29 countries from Spain. In the domestic market, it has 82 routes.

Also read: Ryanair to increase its operations at Girona airport

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