Boeing has launched its 737 MAX 200 aircraft with a commitment from Ryanair for 100 of the new models, valued at $11 billion.
Europe's leading low-cost carrier will be the first airline to operate the 737 MAX 200, a variant based on the successful 737 MAX 8 that can accommodate up to 200 seats, increasing revenue potential and providing customers up to 20 percent better fuel efficiency per seat than today's most efficient single-aisle airplanes.
In addition to the commitment, valued at $11 billion at current list prices, Ryanair has options to purchase another 100 737 MAX 200s.
Ryanair CEO Michael O'Leary, said: "Ryanair is proud and honored to become the lead operator of Boeing's 'gamechanger' 737 MAX 200, which will expand our fleet to 520 aircraft by 2024 and create another 3,000 new jobs for pilots, cabin crew and engineers in Europe, while allowing us to grow traffic from 82 million last year to over 150 million annually by 2024."
"These new aircraft will allow Ryanair to lower our costs and airfares, while improving our customer experience with more leg room and the Boeing Sky Interior, as we roll out new offers, particularly for our Business Plus and Family Extra customers.
“As many of Europe's flag carriers cut capacity on short haul routes, Ryanair looks forward to using these new Boeing 737 MAX 200s to grow at many more of Europe's primary airports."
Boeing developed the 737 MAX 200 in response to the needs of the fast growing low-cost sector, which is forecasted to account for 35 percent of single-aisle airline capacity by 2033.
While the heart of the single-aisle market will remain at 160 seats, the 737 MAX 200 will provide carriers like Ryanair with up to 11 more seats of potential revenue and up to five percent lower operating costs than the 737 MAX 8, driving economic growth and increasing access to air travel.
Boeing Commercial Airplanes President and CEO Ray Conner, said: "The 737 MAX 200 is the perfect fit for Ryanair, providing improved efficiencies, 20 percent lower emissions, increased revenues and a high level of passenger comfort.
"The new variant will play a significant role in enabling the airline to continue to expand its operations, while providing passengers across Europe with outstanding value."
Based on the 737 MAX 8 airframe, the 737 MAX 200 can accommodate up to 200 seats by incorporating a mid-exit door increasing the exit limit. The airframe is 2.2 meters longer than the A320neo, giving customers more flexibility and space in the cabin, and offering a better solution at both the heart of the single-aisle market (160 seats) and at maximum passenger configurations.
Headquartered in Ireland's capital city, Ryanair operates more than 1,600 flights daily from 69 bases connecting 186 destinations in 30 countries.
Boeing shares have risen in value in light of its announcement and Ryanair’s order.