Ryanair said it plans to buy at least 150 Boeing (NYSE:BA) 737 10 Max planes with options for 150 more.
It’s the budget carrier’s biggest order and the manufacturer’s latest sizable deal for new planes as airlines replace aging jets and grow their fleets.
Ryanair plans to operate the Max 10s, which haven’t yet been certified by regulators, with 228 seats on board.
The 150 planes in the firm order are worth more than $20 billion at list prices, but airlines generally receive significant discounts for such big sales. Ryanair stopped negotiations for a big Max order in September 2021 because of a dispute over pricing.
Ryanair’s CEO, Michael O’Leary, said the new planes will replace older 737 jets in its fleet. The 150 additional jets it has optioned would allow it to fly more than 300 million passengers a year by 2034, he said.
The ultra-low-cost airline flew 97 million passengers in the 12 months ended March 31, down from 149 million before the Covid pandemic, according to a company report.
The budget carrier’s order is the latest in a string of big sales for Boeing, which has reached agreements to sell hundreds of planes to customers including Air India, Saudia and United Airlines (NASDAQ:UAL) in recent months.
BA shares went airborne $3.55, or 1.8%, to begin Tuesday at $200.81.
