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Ryanair to End Boeing Feud With $18B Order

The deal with be announced at a White House meeting


boeing_plane_630_flickrJust in time for St. Patrick’s Day, Boeing (NYSE:BA) is about to get a huge order from Ireland’s discount airline.

Ryanair (NASDAQ:RYAAY) will order 200 air planes from the aerospace giant in a deal with $18 billion dollars. The agreement will be officially announced at a White House meeting between President Barack Obama and Enda Kenny, Ireland’s prime minister, next week, the Irish Independent says.

United Grounds Boeing 787s Through June 5
United Grounds Boeing 787s Through June 5

The new order would signal that Boeing and Ryanair have resolved a dispute dating back to 2009 which led to the airline cancelling a large order with the airplane-maker.

New planes will help Ryanair increase its annual passenger traffic from a current 80 million fliers to as many as 120 million. The carrier already operates 305 Boeing planes.

Last summer, Ryanair made a $883 million bid to buy Aer Lingus (PINK:AELGF), its second effort to purchase the rival airline since 2006.

Shares of Boeing and Ryanair rose fractionally in Tuesday morning trading.

Article printed from InvestorPlace Media,

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