Ryanair in £10bn Boeing planes deal

RyanairLow-fare carrier Ryanair has announced a £10 billion deal for scores of new planes in an agreement which will create 3,000 jobs across Europe.

Promising even lower fares, the Irish no-frills airline said it was taking 175 new Boeing 737-800s as it aims to fly more than 100 million passengers a year by the beginning of 2019.

Around 75 of the new aircraft will replace some of Ryanair's existing fleet of 737s - the plane known as the "workhorse of the skies".

Ryanair chief executive Michael O'Leary said: "We are pleased to sign this agreement with Boeing which will expand our fleet to over 400 units, creating over 3,000 new jobs for pilots, cabin crew and engineers, while allowing us to grow our low-cost airline service by about 5% per annum over the next several years.

"Ryanair is proud to buy Boeing, who have always made great aircraft and the 737-800 has been the cornerstone of Ryanair's success due to its great engineering and phenomenal reliability. These 175 new airplanes will enable us to lower cost and airfares even further."

The Ryanair announcement follows news earlier this week that Indonesian budget carrier Lion Air was taking 234 of the A320 family of aircraft made by European plane-maker Airbus.

French President Francois Hollande said the contract, worth around £15.8 billion, would secure 5,000 jobs over 10 years.