Ryanair For Hire As Corporate Jet Launched

Ryanair has stepped up its efforts to secure more business passengers by launching a corporate jet for charter.

The airline, known for its no-frills approach, said it had customised a Boeing (NYSE: BA - news) 737-700 - fitting it with 60 business class seats.

Ryanair said the aircraft had a range of up to a six-hour flight time and it was hoping the service would be of interest to sports teams, travel groups as well as business customers.

It (Other OTC: ITGL - news) will be staffed by Ryanair pilots and crew and have "fine dining" catering facilities available.

Prices, Ryanair said, would be on a cost-per-hour basis, with quotes "dependent on the departure and arrival airports" - claiming the rate would be the most competitive in Europe.

The company's Robin Kiely said: "More than 25 million business travellers fly with Ryanair every year, choosing our low fares, unbeatable on-time performance, and Europe’s largest route network, along with the benefits of our Business Plus service.

"Now (NYSE: DNOW - news) , business and group travellers can also enjoy the benefits of Ryanair’s corporate jet service, as we offer a customised Ryanair Boeing 737-700 for private charter."

Carriers like Ryanair and its fierce rival easyJet have been increasingly targeting the business travel market - as firms continue to keep their travel budgets in check.

Both have reported growth - with easyJet reporting business passenger growth of 6.5% in the final quarter of 2015.

It is targeting a rise of 25% in the next three years (Other OTC: UBGXF - news) .