This news is classified in: Aerospace Aviation Contracts Commercial Aircraft
May 9, 2023
Boeing [NYSE: BA] and Ryanair announced Europe's leading low-cost airline has selected the largest 737 MAX model to power its future growth with an order for up to 300 airplanes. The purchase agreement is the biggest in Ryanair's history and includes a firm order for 150 737-10 jets and options for 150 more.
Ryanair has deployed a growing fleet of 737-8-200 airplanes to accelerate its post-pandemic recovery and meet strong travel demand. The 197-seat 737-8-200 model has helped the airline reduce fuel use and emissions by over 20% compared to the airplanes they are replacing. The new order adds the larger 737-10 variant, which offers Ryanair 228 seats and the best unit economics of any single-aisle airplane.
"Ryanair is pleased to sign this record aircraft order for up to 300 MAX 10s with our aircraft partner Boeing. These new, fuel efficient, greener technology aircraft offer 21% more seats, burn 20% less fuel and are 50% quieter than our B737-NGs," said Michael O'Leary, Ryanair's Group CEO.
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"We expect half of this order will replace older NGs while the remaining 150 aircraft will facilitate controlled, sustainable growth to just over 300m guests per annum by 2034. This order, coupled with our remaining Gamechanger deliveries, will create 10,000 new jobs for highly paid aviation professionals over the next decade, and these jobs will be generated across all of Europe's main economies where Ryanair is currently the No.1 or No.2 airline," O'Leary said.
"In addition to delivering significant revenue and market growth opportunities across Europe, we expect these new larger more efficient aircraft to drive further unit cost savings, which will be passed on to passengers in lower air fares. The extra seats, lower fuel burn and more competitive aircraft pricing supported by our strong balance sheet, will widen the cost gap between Ryanair and competitor EU airlines for many years to come, making the Boeing MAX 10 the ideal growth aircraft order for Ryanair, our passengers, our people and our shareholders."
"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," said Boeing President and CEO Dave Calhoun. "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 the airline group achieve its goals."
This new order will be posted to Boeing's Orders and Deliveries website once it is finalized.