Ryanair orders 300 planes worth £32bn

RYANAIR has ordered 300 Boeing aircraft worth £32bn as the industry bounces back from Covid-19.

Europe’s largest budget carrier placed a firm order for 150 of the largest version of Boeing’s narrow-body jet family, known as the 737 MAX 10, with options for another 150. The delivery of the aircraft between 2027 and 2033 will create more than 10,000 jobs for pilots, cabin crew and engineers.

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

The deal saw the companies bury the hatchet after an 18-month public feud over the price of the Boeing jets. Even after the agreement was signed, Ryanair chief executive Michael O’Leary continued to quibble, saying he had been forced to pay more per seat than in previous deals.

‘In our view it will never be cheap enough and in Boeing’s view it is always far too cheap,’ he said.

Boeing chief Dave Calhoun countered that no premium was high enough for Boeing’s best- selling jet in a jovial back-and-forth capping months of tough negotiations.

Each plane will have 228 seats, some 21pc more than the Boeing 737 Next Generation aircraft which half of the deliveries are expected to replace. Despite being bigger, they burn 20pc less fuel and are quieter than the older planes. 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. O’Leary said: ‘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.’

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.’

O’Leary last year broke off talks with Boeing and issued a barrage of public comments over pricing and delays in the arrival of previously ordered jets.

Yesterday, however, he said Boeing has made significant progress in catching up on delays.