Ryanair orders 300 aircraft in record deal worth $40bn

Ryanair has ordered 300 new Boeing 737-Max-10 aircraft for delivery between 2027 to 2033.

The order has 150 firm and 150 options, and subject to all options being exercised, the deal is valued at more than $40 billion at current list prices.

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

The deal will be subject to shareholder approval at Ryanair’s annual general meeting on September 14.

The phased deliveries between 2027 and 2033 will enable Ryanair to create more than 10,000 new jobs for pilots, cabin crew and engineers.

The growth will see annual passenger numbers rise by 80%, from 168 million in year-end March 2023 to 300 million by March 2034.

Ryanair expects 50% of these deliveries will replace older B737NGs, which will allow the airline to continue to operate one of Europe’s youngest, most fuel-efficient fleets.

Michael O’Leary, Ryanair Group chief executive, said: “These new, fuel-efficient, greener technology aircraft offer 21% more seats, burn 20% less fuel and are 50% quieter than our B737-NGs.

“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 located across all of Europe’s main economies where Ryanair is currently the number-one or number-two airline.

“In addition to delivering significant revenue and traffic growth across Europe, 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.

“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.”

Dave Calhoun, Boeing president and chief executive, added: “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.”