Boeing 737 MAX 200: Ryanair commits to order 100 jets

NEW YORK - European airline Ryanair has committed to order 100 of Boeing's (BA) 737 MAX 200 airplanes, valued at $11 billion at current list prices.

According to a Boeing press release, Ryanair is the launch customer of the new jet.

"Ryanair is proud and honored to become the lead operator of Boeing's 'gamechanger' 737 MAX 200, which will expand our fleet to 520 aircraft by 2024 and create another 3,000 new jobs for pilots, cabin crew and engineers in Europe, while allowing us to grow traffic from 82 million last year to over 150 million annually by 2024," Ryanair CEO Michael O'Leary said in a statement.

The Dublin-based budget airline has options to buy another 100 of the 737 MAX 200s as well.

The 737 MAX 200 is considered more fuel-efficient than most other current single-aisle airplanes and can accommodate up to 200 seats, 11 more than previous models.

Ryanair runs more than 1,600 flights daily.

Boeing's stock rose 1.73 percent to $126.85 in mid-morning trading Monday.