Low-cost European carrier Ryanair (NASDAQ: RYAAY) has placed its largest order to date for at least 150 of Boeing’s (BA) 737 Max airplanes with an option of 150 more airplanes. Shares of Boeing were up in pre-market trading at the time of writing after the announcement.
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Ryanair’s CEO, Michael O’Leary, stated that the new 737 Max will replace older 737 jets in its fleet. The CEO added that the option for 150 additional jets would allow it to fly more than 300 million passengers a year by 2034.
RYAAY stock has soared by around 29% year-to-date.