Ryanair says Boeing set ‘delusionary’ double-digit price rise

This post was originally published on this site

Europe’s largest low-cost carrier in September abruptly ended talks with the U.S. planemaker over an order of 737 MAX 10 jets, worth tens of billions of dollars because of differences over price.

Speaking in a video presentation following the airline’s latest financial results, Group Chief Executive Michael O’Leary said Boeing’s approach was “delusionary”.

Boeing did not immediately respond to an emailed request for comment.

“Boeing out of the blue sought a… substantial double-digit price increase. I don’t understand the strategy. We think Boeing’s approach to this is delusionary,” he said, describing Ryanair as Boeing’s only significant customer in Europe.

“Ryanair I think was very close, in active negotiations for a follow-on order for MAX 10 but Boeing walked away from the discussions because they are looking for a price increase at a time when prices should be falling so Boeing can recover its production,” O’Leary said.

O’Leary in September said Ryanair had been in talks to order 100 of the 230-seat MAX 10 for delivery from 2026 to 2030 with an option for 100 more before the talks were cancelled.

Ryanair Chief Financial Officer Neil Sorahan told Reuters in an interview on Monday that the airline’s management were “very patient people”.

“We’ll wait until the time is right and the price is right” for a Boeing plane order, Sorahan said.