Ryanair Orders $40B Worth New Aircraft From Boeing, Expects 80% Growth In Traffic By March-2034 - Ryanair Hldgs (NASDAQ:RYAAY)

Ryanair Holdings PLC (NASDAQ:RYAAY) disclosed ordering 300 new 737-MAX-10 aircraft from Boeing Co (NYSE:BA) for $40 billion.
The aircraft order, comprising 150 firm and 150 options, is expected to be delivered between 2027 and 2033, subject to Ryanair shareholders' approval on September 14, 2023.
The aircraft will have 228 seats (21% more than the B737NG model), strengthening Ryanair's unit-cost competitive advantage. Also, the company expects 50% of these deliveries to replace the older B737NG model.
With the deal, Ryanair projects traffic growth of 80% to 300m passengers annually by March 2034 from 168m at the end of March 2023. Also, the company expects job creation for over 10,000 pilots, cabin crew and engineers.
"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," commented Michael O'Leary, Ryanair CEO.
In March, Ryanair resumed talks with Boeing for 200 narrow-body aircraft.
Price Action: Ryanair shares are trading higher by 2.65% at $98.78, and BA is up 1.06% at $199.43 on the last check Tuesday.
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Ryanair Holdings PLC (NASDAQ:RYAAY) disclosed ordering 300 new 737-MAX-10 aircraft from Boeing Co (NYSE:BA) for $40 billion.
The aircraft order, comprising 150 firm and 150 options, is expected to be delivered between 2027 and 2033, subject to Ryanair shareholders' approval on September 14, 2023.
The aircraft will have 228 seats (21% more than the B737NG model), strengthening Ryanair's unit-cost competitive advantage. Also, the company expects 50% of these deliveries to replace the older B737NG model.
With the deal, Ryanair projects traffic growth of 80% to 300m passengers annually by March 2034 from 168m at the end of March 2023. Also, the company expects job creation for over 10,000 pilots, cabin crew and engineers.
"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," commented Michael O'Leary, Ryanair CEO.
In March, Ryanair resumed talks with Boeing for 200 narrow-body aircraft.
Price Action: Ryanair shares are trading higher by 2.65% at $98.78, and BA is up 1.06% at $199.43 on the last check Tuesday.
Photo Via Company

To add Benzinga News as your preferred source on Google, click here.