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Thursday 7 December 2023 Dublin: 11°C
The tailfin of Ryanair Boeing 737-800 taxiing along the runway in front of the control tower at Manchester Airport.
Big Bucks

Ryanair to buy 300 new Boeing aircraft over 10 years in a $40 billion deal

Ryanair said it is the largest order by an Irish company for goods manufactured in the US.

LAST UPDATE | May 9th 2023, 3:16 PM

RYANAIR HAS SAID it has ordered 300 new Boeing 737 Max aircraft.

The deal – which involves firm orders for 150 of the planes and options for another 150 – is worth more than $40 billion (€36.5 billion) at list prices.

The delivery of the aircraft between 2027 and 2033 will enable the airline to create more than 10,000 jobs for pilots, cabin crew and engineers, Ryanair said.

Each plane will have 228 seats, some 21% more than the Boeing 737 Next Generation aircraft which half of the deliveries are expected to replace.

boeing-737-max-10-airliner-jet-plane-the-new-version-of-the-max-series-flying-at-the-farnborough-international-airshow-2022-latest-version-of-max Alamy Stock Photo Boeing 737 MAX 10 airliner jet plane, the new version of the MAX series, flying at the Farnborough International Airshow 2022. Alamy Stock Photo

Ryanair expects annual passenger numbers to rise from 168 million in the year to the end of March to 300 million by March 2034.

The transaction is subject to shareholder approval at Ryanair’s annual general meeting on 14 September.

The airline said it is the largest order by an Irish company for goods manufactured in the US.

Ryanair Group CEO Michael O’Leary said new aircraft offer “burn 20% less fuel and are 50% quieter” than their current 737s.

He added: “We expect these new, larger, more efficient, greener, aircraft to drive further unit cost savings, which will be passed on to passengers in lower air fares.”

At a press conference, O’Leary said Ryanair has “no interest” in the transatlantic market, but that the new Max 10 aircraft will help it grow its short-haul operations.

He continued: “We’re looking at expanding our operations outside of Europe.

“We’re growing strongly in neighbouring countries to Europe: Morocco, Israel, Jordan, we’re looking at Egypt.

“I think the biggest prize we’re looking at is Ukraine.

“We were the largest airline in Ukraine when the Russians invaded last year.

“We intend to be the first airline back in there when hopefully the Ukrainians have successfully repelled the Russian invasion.

“We will go back in there within two weeks of it being declared safe by the European authorities.”

Boeing president and chief executive Dave Calhoun said: “The Boeing-Ryanair partnership is one of the most productive in commercial aviation history, enabling both companies to succeed and expand affordable travel to hundreds of millions of people.

“Nearly a quarter century after our companies signed our first direct airplane purchase, this landmark deal will further strengthen our partnership.

“We are committed to delivering for Ryanair and helping Europe’s largest airline group achieve its goals by offering its customers the lowest fares in Europe.”

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