Ryanair to buy 25 Boeing 737 planes

Ryanair announced on Tuesday that it has decided to buy 25 Boeing 737 MAX 200 planes with a combined value of more than 3 billion U.S. dollars.

The decision made by the airline is part of its efforts to achieve the ambitious target to grow its annual traffic to 200 million passengers by 2024 from 129 million in 2017.

The Boeing 737 MAX 200 plane has a total of 197 seats, eight seats more than the current 189-seat Boeing 737-800NG while it will reduce fuel consumption and noise emissions by 16 percent and 40 percent respectively, said the airline's Chief Financial Officer Neil Sorahan, adding that the new models ordered will allow Ryanair to further lower its fares while ensuring that it remains Europe's greenest and cleanest airline.

The first aircraft of the new orders will be delivered in the spring of 2019, said Sorahan.

Headquarterd in Ireland, Ryanair is the largest low-cost flight operator in Europe. Currently the airline boasts a fleet of about 430 planes, all sourced from Boeing.

On Monday, the company announced the opening of its first flights from Bosnia and Herzegovina, bringing its flight operation in the 37th country.