Ryanair: Irish airline signs $40bn Boeing deal

The new aircraft, which have 228 seats, are to be used to meet Ryanair’s traffic which it forecasts will grow by 80% and reach 300m passengers a year by 2034.

The airline’s chief executive Michael O’Leary described the deal as “the ideal growth aircraft order for Ryanair, our passengers, our people and our shareholders”.

“These new, fuel efficient, greener technology aircraft offer 21% more seats, burn 20% less fuel and are 50% quieter than our B737-NGs,” he said.

He added that the deal would enable Ryanair to create more than 10,000 new high-paid jobs for pilots, cabin crew and engineers.

Given the size and scale of the transaction, it will be subject to shareholder approval at Ryanair’s next annual general meeting.