Budget airline Ryanair received the go-ahead from its shareholders this morning for a deal to purchase up to 200 Boeing "gamechanger" 737 MAX aircraft for $22 billion.

Ryanair is the lead customer for this new Boeing aircraft which will feature 197 seats (8 more than Ryanair's existing 737-800s), more leg room, new Boeing Sky Interiors, and CFM LEAP-1B engines, which will reduce fuel consumption by up to 18% in Ryanair's configuration and reduce noise emissions by 40%.

Ryanair said that the new aircraft would  further reduce Ryanair's unit costs, and these savings will be passed on via lower fares to Ryanair's customers.

Ryanair's Michael O'Leary said: "Ryanair is proud and honoured to become the lead operator of Boeing's 737 "gamechanger" aircraft. This order will expand our fleet to approximately 520 aircraft by 2024 and create another 10,000 new jobs for pilots, cabin crew and engineers in Europe, while allowing us to grow our traffic to over 150m per annum.

“We wish to sincerely thank our Board and shareholders for their overwhelming support for this new "gamechanger" aircraft order."