Boeing Wins Key Endorsement From Ryanair With Its Largest 737 MAX Order Since Deadly Crashes

 Boeing has signed off on its first major 737 MAX sale since a pair of fatal crashes that have connected the plane since March 2019, with Irish low-cost airline Ryanair agreeing to buy 75 of the 8-200 variant on Tuesday, weeks after the Federal Aviation Administration granted approval for the planes to return to service.

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A Boeing 737 MAX plane comes for a landing after a Federal Aviation Administration (FAA) test... [ + ] AFP VIA GETTY IMAGES

KEY FACTS

Ryanair will add these 75 planes to the 135 MAX jets it previously ordered between 2014 and 2018, none of which has yet been delivered according to Boeing figures.

Ryanair did not disclose the cost of the planes, but said in a statement that Boeing agreed to a "modest reduction" in price, estimating the total value of its 210 MAX orders at more than $ 22 billion (analysts believe the airline probably negotiated a significant discount).

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Boeing reported only 42 MAX orders between March 2019 (when the planes were first grounded) and October 2020, making Ryanair the largest recent customer of the plane by far.

It is unclear when these planes will be delivered: Boeing referred questions about the delivery dates to Ryanair, and Ryanair did not respond to Forbes ' questions.

Ryanair is looking at another big 737 MAX order sometime in the next 18 months, CEO Michael O'leary told Reuters on Thursday.

CRUCIAL QUOTE

“We are pleased that Ryanair is once again putting its trust in the Boeing 737 family and building its future fleet with this expanded firm order,” Boeing CEO Dave Calhoun said in a press release on Thursday.

KEY BACKGROUND

The 737 MAX, which entered service in 2017, is Boeing's best-selling commercial aircraft, but after a series of cancellations this year, its accumulation has been reduced to 3, 320 aircraft. After two MAX aircraft in Indonesia and Ethiopia crashed in 2018 and 2019, killing 347 people, Boeing faced a strong public outcry and a strong financial cost. The accidents, which were attributed to a faulty flight control system that depended on a single sensor, led the Federal Aviation Administration and regulators around the world to ground the planes and forced Boeing to halt production. Since then, Boeing has launched design changes, aiming to rebuild trust and clear the planes to fly again. The FAA finally lifted its grounding order last month, and the European Union plans to offer approval in January.

WHAT TO SEE FOR

Even though the FAA cleared the 737 MAX for flight, it's likely to take months for many of the planes to return to service. Airlines will need to implement Boeing's design changes and retrain their pilots in simulators before they can fly again. In addition, airlines are struggling with a collapse in demand due to the Covid-19 pandemic.

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