Ryanair to buy $11bn Boeing planes

Los Angeles - European airline Ryanair signed an agreement to buy 100 jets from US airplane manufacturer Boeing, both companies announced on their websites on Monday.

The transaction, valued at $11bn, involves Boeing's new 737 Max 200 airplanes. Ryanair has the option to purchase an additional 100 new 737 Max 200 planes, which could double the value of the deal.

The low-cost carrier will be the first airline to operate the 737 Max 200, which can be configured to accommodate up to 200 seats and provide up to 20 per cent better fuel efficiency per seat than single-aisle airplanes now in use, the statement said.

"Ryanair is proud and honoured to become the lead operator of Boeing's 'game changer' 737 Max 200 aircraft, which will expand our fleet to 520 aircraft by 2024," said Ryanair chief executive Michael O'Leary in the statement.

Boeing developed the 737 Max 200 to better accommodate the needs of the fast growing low-cost sector.

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