Ryanair orders 300 Boeing 737-MAX-10 for 40 billion dollars

2023-05-09 18:31:06

Ryanair offers a “record plane order”. The Irish company announced in a press release on Tuesday that it had ordered 300 new Boeing 737-MAX-10s, including 150 firm and 150 optional, for a list price “estimated at more than 40 billion dollars”, according to a press release. Note that the catalog prices are generally never applied due to the discounts granted.

“This is the largest order ever placed by an Irish company for American manufactured goods”, says Ryanair, which specifies that given its size, the transaction “will be subject to the approval of (its) shareholders” September 14 at the general meeting.

The airline estimates that the new planes, scheduled for delivery between 2027 and 2033, will enable it to create more than 10,000 new jobs for pilots, cabin crew and engineers, and hopes to see the number of passengers carried increase from 168 million at the end of March. 2023 to 300 million per year by March 2034.

Boeing in the red in the first quarter

“These new planes (…) offer 21% more seats, consume 20% less fuel and are 50% quieter” than the old B737-NG models, argued Ryanair boss Michael O’Leary, quoted in the press release. Michael O’Leary also says he hopes that these new aircraft will allow “further cost savings, which will be passed on to passengers through lower airfares”.

“The Boeing-Ryanair partnership is one of the most productive in commercial aviation history, enabling both companies to thrive and expand affordable travel to hundreds of millions of people,” said for his part the CEO of Boeing Dave Calhoun, also quoted in the Ryanair press release.

Boeing remained in the red in the first quarter, with a larger-than-expected net loss of $425 million, the manufacturer announced in late April. The airline meanwhile announced in January a net profit of 211 million euros for its staggered third quarter, driven by the rebound in demand, especially for the key holiday season. The action of Ryanair took 1.85% to 15.39 euros on the Dublin Stock Exchange.