RELIEF for Ryanair as Europe and USA agree to zero tariffs ahead of 29 winter deliveries

Michael O'Leary FY results presentation 2024 — Michael O’Leary

The confirmation this week that aircraft and aircraft parts are subject to zero tariffs in the new tariff regimen between Europe and the USA will come as a relief to Ryanair, who are expecting the 29 remaining delayed Boeing 737-MAX to be delivered over the coming months.

Ryanair CEO Michael O’Leary told the most recent earnings call that the order book of 210 aircraft will complete deliveries well ahead of summer ’26.

Ryanair Group has received a total of eleven new deliveries so far this year. Ryanair Group, has received eleven 737 MAX 8-200s to date this year. Seven of those have been assigned to Buzz,

At the beginning of August Boeing 737 MAX 8-200 SP-RZR (msn 62390), joined a fleet that already includes SP-RZP, SP-RZQ, SP-RZS, SP-RZT, SP-RZU, and SP-RZV. Ryanair DAC added four aircraft, with the registrations EI-IKP, EI-IKX, EI-IKY.

The group’s CEO, Michael O’Leary, recently commented during an earnings call that these deliveries are “critical to our goal of carrying 200m passengers annually by 2030,” and that aircraft’s fuel-efficient design that could save up to €500,000 per aircraft in annual operating costs compared to older models.

We take heart from Boeing’s recent confirmation, they expect the MAX aircraft, the MAX 7, MAX 10, to be certified in late 2025, which should put us well on course for on-time contractual deliveries of our first 15 MAX 10 in the spring of 2027. In fact, Stephanie Pope wrote to me last week confirming those first 15 deliver — her confidence in those first 15 deliveries in the spring of ’27, which we think is good news.

Beoing expect the MAX aircraft, the MAX 7, MAX 10, to be certified in late 2025, which should put us well on course for on-time contractual deliveries of our first 15 MAX 10 in the spring of 2027. In fact, Stephanie Pope wrote to me last week confirming those first 15 deliver — her confidence in those first 15 deliveries in the spring of ’27, which we think is good news.

High-density variants, capable of carrying up to 200 passengers, are expected to enable Buzz to secure more lucrative charter contracts, particularly in the competitive European leisure market, where demand for affordable short-haul flights remains robust despite fluctuating fuel costs hovering around €0.80 per litre.

Meanwhile, Ryanair DAC, the group’s flagship entity operating from bases across Ireland, England, and continental Europe, has also seen a notable boost with four new aircraft integrated into its fleet. These include the registrations EI-IKP, EI-IKX, EI-IKY, and EI-IKZ, which arrived in quick succession to support summer peak operations.

This infusion is projected to add over 800 seats to Ryanair’s daily capacity, helping the airline maintain its position as Europe’s largest low-cost carrier by passenger numbers. With fares starting from as low as €19.99 for intra-European routes, the additional aircraft are poised to drive further market penetration, even as the group navigates challenges like airport slot constraints and regulatory scrutiny over emissions.

Ryanair Group expects more deliveries are on the horizon for the remainder of 2025, with Boeing committed to fulfilling an order backlog exceeding 150 aircraft for the group. Sources close to the matter suggest that up to a dozen additional 737 MAX 8-200s could arrive by year-end, potentially valued at over €1.2 billion at list prices, though Ryanair’s negotiated discounts could shave off hundreds of millions of euro.

This accelerated pace follows a period of delays due to global supply chain disruptions, but recent production ramp-ups at Boeing’s facilities in the United States have restored momentum.

The expansion comes at a pivotal time for the aviation sector, with European air traffic recovering to pre-pandemic levels and beyond, according to Eurocontrol data. Geopolitical tensions and rising maintenance expenses could temper the benefits, with average aircraft turnaround costs now exceeding €2,000 per flight.

Ryanair’s strategy of rapid fleet renewal positions it well against rivals like easyJet and Wizz Air, both of whom are also pursuing similar MAX orders. As the group eyes further growth into secondary airports, these deliveries not only enhance reliability but also pave the way for potential new routes.