(Alliance News) - Ryanair Holdings PLC on Tuesday said it has placed an order for up to 300 new Boeing 737-MAX-10 aircraft, worth around USD40 billion.
It is the Dublin-based budget airline's biggest order from Boeing Co to date.
Of the total 300 aeroplanes, 150 are firm orders and are scheduled for delivery between 2027 and 2033. Ryanair expects half of these deliveries to replace the older B737-NGs planes, allowing it to become more fuel efficient.
The order should allow for the creation of more than 100,000 new jobs for pilots, cabin crew and engineers, while also boosting revenue growth.
Ryanair added that the deal will allow it to deliver sustained traffic and tourism growth at lower fares across Europe.
The transaction is subject to shareholder approval at Ryanair's annual general meeting in September.
Chief Executive Officer Michael O'Leary said: "These new, fuel efficient, greener technology aircraft offer 21% more seats, burn 20% less fuel and are 50% quieter than our B737-NGs.
"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 European Union airlines."
Ryanair shares were up 2.3% at 1,326.00 pence each in London on Tuesday afternoon. Boeing shares were trading 3.3% higher at USD203.65 in New York on Tuesday morning.
By Sabrina Penty, Alliance News reporter
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