By Joe Hoppe

Ryanair Holdings said Tuesday that it has ordered 300 new Boeing 737-MAX-10 aircraft in a deal valued at more than $40 billion if all options are exercised at current list prices.

The Irish budget airline said the deal comprises 150 firm orders and 150 options, for delivery between 2027 and 2033, and is the largest-ever order placed by an Irish company for U.S. manufactured goods.

The company said the phased delivery will allow it to create more than 10,000 new jobs for pilots, cabin crew and engineers, and facilitate traffic growth of 80% to 300 million a year by March 2034 from 168 million passengers in the year ended March 2023.

Ryanair said it expects 50% of the deliveries will replace older Boeing 737s and with additional seats and greater fuel efficiency, the new aircraft are expected to increase the company's unit-cost advantage over competitors.

Given the scale of the deal, it will be subject to shareholder approval at the annual general meeting on Sept. 14. The capital expenditure is expected to be largely funded from internal cashflows.

Shares in Dublin at 1242 GMT were up EUR0.12, or 0.8%, at EUR15.23.

Write to Joe Hoppe at joseph.hoppe@wsj.com

(END) Dow Jones Newswires

May 09, 2023 09:00 ET (13:00 GMT)

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