In a historic move, Europe's preeminent low-cost carrier, Ryanair, has opted for the largest 737 MAX variant to fuel its future growth, as the airline places an order for a staggering 300 aircraft from Boeing. This purchase agreement stands as Ryanair's most substantial in its history, comprising a firm order for 150 737-10 jets, along with options for an additional 150.
Ryanair has strategically deployed an ever-expanding fleet of 737-8-200 airplanes, propelling its recovery efforts in the wake of the pandemic and catering to robust travel demand. The 197-seat 737-8-200 model has played a vital role in reducing the airline's fuel consumption and emissions by over 20% compared to the aircraft it replaces. With the new order, Ryanair will now introduce the larger 737-10 variant into its fleet, boasting 228 seats and unrivaled unit economics among all single-aisle airplanes.
Michael O'Leary, the Group CEO of Ryanair, expressed his satisfaction, stating, "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."
O'Leary further elaborated on the impact of this momentous order, asserting, "We anticipate that half of this order will replace older NGs, while the remaining 150 aircraft will facilitate controlled, sustainable growth, accommodating just over 300 million guests per annum by 2034. This order, in conjunction with our ongoing Gamechanger deliveries, will generate 10,000 new jobs for highly skilled aviation professionals over the next decade. These employment opportunities will be dispersed across Europe's major economies, where Ryanair currently stands as the No. 1 or No. 2 airline."
Boeing President and CEO, Dave Calhoun, highlighted the exceptional partnership between Boeing and Ryanair, affirming, "The Boeing-Ryanair partnership is one of the most fruitful in the annals of commercial aviation, empowering both companies to flourish and make affordable travel accessible to countless millions. This landmark deal, nearly a quarter-century after our initial direct aircraft purchase agreement, will further fortify our alliance. We are fully committed to fulfilling Ryanair's needs and aiding the airline group in achieving its aspirations."