RYANAIR BUYS 75 BOEING MAX JETS AT $9B

Budget airline Ryanair ordered 75 Boeing 737 MAX jets with a list price of $9 billion, throwing a commercial lifeline to the embattled U.S. planemaker after regulators lifted a 20-month safety ban, Eric M. Johnson and Conor Humphries reported for Reuters.

The order from the Irish airline, Europe’s biggest low-cost carrier and one of Boeing’s most important customers, is the largest for the jet since 2018 before two fatal crashes led to a 20-month global flight ban. Boeing shares were up 6% on the news, first reported by Reuters.

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“I’ve always had faith that the order book would begin to fill with the return of the industry,” Boeing Chief Executive David Calhoun said at a signing ceremony in Washington. As regulators move to clear the aircraft for flight after revisions to cockpit software and pilot training, Boeing is hoping for more eye-catching MAX orders, sources have said.

“It’s certainly the deal of the new century,” Ryanair Chief Executive Michael O’Leary told Reuters later. Ryanair did not disclose the price it will pay, but traders say deals typically include discounts in excess of 50% of list prices. Ryanair was expected to win an even bigger discount of well over two-thirds in return for a headline-grabbing relaunch of the MAX that helps fill gaps left by cancellations, sources said.