Ryanair to secure hundreds of 737s as the industry moves beyond pandemic

May 9 (UPI) -- Low-cost European airline Ryanair said Tuesday it signed an agreement to secure as many as 300 737 MAX models from manufacturer Boeing.

"These new, fuel efficient, greener technology aircraft offer 21% more seats, burn 20% less fuel and are 50% quieter than our Boing 737-NGs," said Michael O'Leary, Ryanair's Group CEO.

Ryanair said it was looking to build up its 737 fleet to address the post-pandemic recovery in travel demand. Half of the new fleet will replace older-model aircrafts used by Ryanair, with the rest covering the company's expectations of millions more in annual "guests" by 2034.

Ryanair and Boeing in 2021 shelved a deal for the 737 MAX after both sides were unable to agree on a price for a "large order" of the aircraft following 10 months of negotiations.

No terms were disclosed on the recent agreement other than Ryanair calling it the biggest purchase agreement to date, though O'Leary added the MAX 10 is "the ideal growth aircraft order for Ryanair, our passengers, our people and our shareholders."

The new order follows an announcement from Boeing that it aims to deliver more than 400 of its 737 airplanes this year, overcoming supply-chain issues and setting a goal of 38 new planes per month.

"We are progressing through recent supply chain disruptions but remain confident in the goals we set for this year, as well as for the longer term," said Dave Calhoun, Boeing president and chief executive officer.

Near-term, the company expects some headwinds due to what it said was a "non-standard manufacturing process" for the fuselage on the 737. That's expected to create short-term production problems while crews carry out the necessary inspections, but Boeing said it expects to deliver between 400 and 450 new 737s this year.