Boeing lands $11-billion deal after redesigning 737 Max to add seats

After redesigning its workhorse 737 airliner to squeeze in nearly a dozen more seats, Boeing announced Monday it has quickly landed an $11-billion order from low-cost Irish carrier Ryanair for at least 100 planes.

The revised model of the 737 Max can carry as many as 200 passengers -- up from 189. Boeing added an additional emergency exit door, allowing passengers to evacuate more quickly to satisfy safety regulations.

Michael O’Leary, Ryanair’s chief executive, said Monday that the carrier planned to fly 197 passengers on each plane. Even with the additional seats, he said, passengers will have more legroom. Ryanair plans to move back the galley to provide more space in the cabin.

“I think there will be a flock of people flooding to Boeing’s door” to buy the new plane, O’Leary said at a joint news conference with Boeing executives in New York to announce the deal.

Boeing reworked the plane’s design to appeal to low-cost airlines like Ryanair. By adding seats, the budget carriers can increase profits while keeping ticket prices competitive. O’Leary said the extra seats would generate about $1 million in extra annual revenue for each aircraft.

Boeing’s stock closed Monday at $127.98, up $3.29, or 2.64%.

Ryanair’s order is for the new, more fuel-efficient version of the plane, known as the 737 Max.

Ryanair has the option to buy an additional 100 of the 200-seat versions, which Boeing has named the 737 Max 200.

Boeing assembles the 737s, its best-selling aircraft, in Renton, Wash., near Seattle. The deal will benefit Boeing’s suppliers across the country, including hundreds in California.

Ryanair, based in Dublin, Ireland, already has Europe’s largest fleet of 737s.

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