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Ryanair places a $40 billion order for up to 300 Boeing 737 MAX 10 aircraft

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Ryanair has announced a huge order for up to 300 Boeing 737 MAX 10 aircraft, in a deal which could be worth up to $40 billion at list price.

Not that Ryanair would ever agree to pay list price, of course ….

This is not a letter of intent or a series of options. 150 of the aircraft ($20 billion-worth at list price) will definitely be delivered. The remaining 150 will sit as an option at a price which is already agreed, albeit not published.

Ryanair places a huge $40 billion order for up to 300 Boeing 737 MAX 10 aircraft

To put the size of the order into context, Ryanair claims that it is the largest order ever placed by an Irish business for US manufactured goods.

Ryanair is currently halfway through receiving an order of 210 Boeing 737 MAX 200 aircraft. These will all be in service by 2025.

There will be a two year gap before the new 737 MAX 10 fleet starts to arrive in 2027, allowing the airline to build up its cash reserves before payment is required. Ryanair is a cash machine – despite covid and despite paying for regular aircraft deliveries from its current order, it had almost $5 billion of net cash in the bank at the end of 2022.

If all 300 aircraft are taken, Ryanair will continue to receive deliveries until 2033. The airline said that half of the new fleet would replace older Boeing 737 NG aircraft, with the MAX 10 having 21% more seats whilst also being more fuel efficient. The remaining aircraft will be for capacity expansion.

The MAX 10 has 30 more seats than the 737 MAX 200 aircraft currently being delivered, although Ryanair has publicly said that having more seats is not necessarily a benefit if the seats cannot be filled on every flight. Moving from 197 seats to 228 seats requires an extra cabin crew member under EU law, irrespective of how many of those seats are sold.

Michael O’Leary, CEO of Ryanair, 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 No.1 or No.2 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 is now planning to fly 300 million passengers per year by March 2034, up from the 168 million it flew in the year to March 2023. Where this growth comes from is a different question, although (having now sat though a couple of Michael O’Leary press conferences) I know that the company believes its exceptionally low cost base allows it to win any battles it chooses to fight.

Comments (91)

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  • Max says:

    EasyJet are worse than Ryanair, more hidden charges and poorer service.

  • ADS says:

    “737 MAX 200”

    They are normally described as MAX 8 200

    It’s the Max 8 with extra seats (and doors)

  • Lady London says:

    If this is the biggest order ever given by an Irish company to an American company, was visiting Ireland in support of this what POTUS was allocating his time to instead of attending the new King’s Coronation in the UK?

    • JDB says:

      Boeing was always getting that order which has been in negotiation for years, so it had nothing to do with Biden. It’s also not usual/traditional for non Commonwealth heads of state to attend British coronations so as to avoid the risk of upstaging our monarch.

    • Rui N. says:

      US presidents never attended a coronation, just sent someone in their stead. Why would Biden be different? And Biden wasn’t in IE when the coronation took place.

      • john says:

        The previous coronation trip would have required the president to travel by ship so they can’t really use that as precedent!!

    • Kevin C says:

      While the ‘snub’ made a good talking point for Farage and his friends, there was no need for Biden to be at the coronation. No British monarch has ever attended a presidential inauguration either.

      • Mike says:

        Until relatively recently the relationship between the US and UK wasn’t good enough for there to be an expectation of the US president to attend a coronation. The US still war-gamed fighting the UK in Canada until the 1930s. In modern times there’s only been one coronation before the current one, so to claim there’s some kind of precedent set and attendance would have been unusual isn’t the case. Had it been Trump in office, he would have attended. With Biden this is, firstly, just an expression of his anglo-hating family and career. Secondly, it was reported that he was too frail to make a second long trip in just over a week.

      • Mike says:

        On the inauguration, that’s a political appointment ceremony, why would any British monach attend? Secondly, neither does anyone else. Thirdly, it happens every four years so isn’t that special or rare. A coronation hasn’t happened for 70 years and has invites for enormous numbers of world leaders.

  • Lady London says:

    So Biden’s visit to Ireland was not to foster commercial relations between the two countries then.

    Thanks for clarifying that about US Presidents not attending UK Coronations, very interesting

    • Londonsteve says:

      I wonder to what extent Ryanair is even run out of Ireland these days, what with their famously expensive salaries and high commercial rents. It makes more sense to base support staff in much cheaper locations like Wizz. If we’re solely looking at the location of senior management then Wizz is actually a Swiss company and by the same token Ryanair is indeed an Irish airline.

    • BA Flyer IHG Stayer says:

      It was to mark the 25th anniversary of the Good Friday agreement,

      If the visit was commercial the this announcement would have been made then with a signing ceremony in front of a full court press between the two companies.

  • Henry Young says:

    So handy to be able to combine my boycott of Ryanair with my boycott of 737 MAX 😉

  • Novice says:

    Aren’t they the killer planes???

  • Eli says:

    What is the range on the Max 10? Does this mean Ryanair will finally fly to the USA?

  • Paul says:

    I do like O’Leary, he understands the mass market. Whilst most the readers here are unlikely to have Ryanair as their preferred travel method, I have sent my staff on them, because they are reliable!

    • ADS says:

      There’s also lots of routings around Europe that Ryanair fly directly that no other airline does – and direct flights reduce chance of delays

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