Ryanair Inks Multi-Billion Dollar Deal with Safran-GE Joint Venture

The agreement extends Ryanair's long-standing partnership with CFM, a Safran-GE aerospace joint venture.

Published on Feb. 10, 2026

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Ryanair Holdings PLC has signed a new multi-year, multi-billion-dollar contract with CFM, a joint venture between Safran Aircraft Engines and GE Aerospace. The deal extends Ryanair's existing partnership with CFM, which has maintained the airline's engines for the past three decades. Under the agreement, Ryanair will source all spare engine parts from CFM and plans to open two new engine maintenance, repair and overhaul shops starting in 2029.

Why it matters

The agreement solidifies Ryanair's long-standing relationship with CFM and positions the airline to take more control over its engine maintenance and operations as it continues to grow its fleet of Boeing 737 aircraft. The deal is seen as a milestone for the Safran-GE joint venture, which is investing to build out a global MRO network to support major airline customers.

The details

The new contract will support Ryanair's existing and future CFM56-7B and LEAP-1B engines, which power the airline's Boeing 737 NG and MAX aircraft. Ryanair expects the annual value of the deal to exceed $1 billion from 2029 once it has opened the two new engine maintenance facilities. The agreement allows Ryanair to bring more of its engine maintenance 'in-house' starting in 2029.

  • Ryanair and CFM have had a partnership for the past three decades.
  • The new multi-year, multi-billion-dollar contract was signed on February 10, 2026.
  • Ryanair plans to open two new engine maintenance, repair and overhaul shops starting in 2029.

The players

Ryanair Holdings PLC

An Irish low-cost airline and one of the largest passenger airlines in Europe.

CFM

A joint venture between Safran Aircraft Engines and GE Aerospace that manufactures and maintains aircraft engines.

Safran SA

A French multinational aircraft engine, rocket engine, aerospace-component, and defense company.

General Electric Co.

An American multinational conglomerate that operates in the aviation, power, renewable energy, digital industry, and healthcare industries.

Michael O'Leary

The Chief Executive Officer of Ryanair.

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What they’re saying

“From 2029 onwards, Ryanair expects to bring the maintenance of its engines 'in-house', and we are pleased to do so with the help and support of our partners CFM. Ryanair will place substantial orders for initial spare parts provisioning with CFM to support the opening of each of these 2 Ryanair engine maintenance facilities.”

— Michael O'Leary, Chief Executive Officer, Ryanair (marketscreener.com)

“We look forward to working closely with CFM, Safran and GE to support what will be one of the world's largest commercial aircraft fleets, and one of the world's largest packages of Boeing 737 engines too.”

— Michael O'Leary, Chief Executive Officer, Ryanair (marketscreener.com)

“We are investing to build a global MRO network within an open and competitive ecosystem.”

— Olivier Andries, CEO, Safran (marketscreener.com)

“Ryanair is one of our largest customers, and we value the opportunity to work with them on solutions to increase capacity and reduce turnaround time.”

— Larry Culp, Head of GE Aerospace (marketscreener.com)

What’s next

The new engine maintenance facilities are expected to open starting in 2029 as part of the multi-year agreement between Ryanair and the Safran-GE joint venture.

The takeaway

This deal solidifies Ryanair's long-standing partnership with CFM and allows the airline to take more control over its engine maintenance and operations as it continues to grow its fleet of Boeing 737 aircraft. It also represents a significant milestone for the Safran-GE joint venture as it invests to build out a global MRO network to support major airline customers.