Ryanair orders 300 new Boeing 737 Max 10 aircraft in £32billion deal

Ryanair orders 300 new Boeing 737 Max 10 aircraft in £32billion deal that will create 10,000 jobs for pilots, cabin crew and engineers

  • Ryanair says new fleet will burn 20% less fuel and offer 21% more seats 
  • Chief executive Michael O’Leary says pilots will fly to Ukraine ‘when it’s safe’
  • Company expects annual passenger numbers to rise to 300 million by 2034

Ryanair has ordered 300 new Boeing 737 Max aircraft in a deal that will create 10,000 jobs and could mean lower air fares.

The move – which involves firm orders for 150 of the planes and options for another 150 – is worth more than $40billion dollars (£32billion).

The delivery of the aircraft between 2027 and 2033 will allow 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.

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

Ryanair’s chief executive Michael O’Leary says he hopes the new fleet will usher in lower prices

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

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

Ryanair group chief executive Michael O’Leary said: ‘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.

‘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.

Ryanair aircraft already fly to popular destinations, including Europe, Israel and Egypt

At a press conference, he said Ryanair had ‘no interest’ in the transatlantic market, but the new Max 10 aircraft will help it grow its short-haul operations.

He added: ‘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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