It is the low-cost carrier’s largest order and the planemaker’s latest major contract as airlines replace aging planes and expand their fleets.
Boeing shares rose about 3% in morning trading on Tuesday after the company reported the order, while the rest of the market was down, CNBC notes.
Ryanair plans to operate Max 10 planes, which have not yet been certified by regulators, with 228 seats on board.
The 150 planes on order are worth more than $20 billion at list prices, but airlines generally receive significant discounts for such large sales. Ryanair has halted negotiations for an order of MAX planes in September 2021 due to a dispute over pricing.
Ryanair CEO Michael O’Leary said the new planes will replace older 737s in its fleet. The planes will likely be delivered between 2027 and 2033, O’Leary said at a news conference. The 150 additional planes it has opted for will allow it to carry more than 300 million passengers a year by 2034 and create 10,000 jobs by then, he said.
The ultra-low-cost airline carried 97 million passengers in the past 12 months, up from 149 million before the Covid pandemic, according to a company report.
The next challenge for Boeing is to accelerate production of the 737 Max. Last month, the company said it aims to produce 38 planes each month, up from 31.
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