Ryanair says Boeing set ‘delusionary’ double-digit price increase By

DUBLIN (Reuters) – Ryanair on Monday said that Boeing (NYSE:) was “delusionary” for imposing a double-digit price increase for an order for the 737 MAX 10 during talks earlier this year.

Europe’s largest low-cost carrier in September abruptly ended talks with the U.S. planemaker over a new order of 737 MAX 10 jets, worth tens of billions of dollars, due to differences over price.

Speaking in a video presentation following the airline’s latest financial results, Group Chief Executive Michael O’Leary said Boeing’s approach was “delusionary”.

“Boeing out of the blue sought a… substantial double-digit price increase. I don’t understand the strategy. We think Boeing’s approach to this is delusionary,” he said, describing Ryanair as the only significant customer that Boeing has in Europe.

“Ryanair I think was very close, in active negotiations for a follow-on order for MAX 10 but Boeing walked away from the discussions because they are looking for a price increase at a time when prices should be falling so Boeing can recover its production,” O’Leary said.

Boeing did not immediately respond to an emailed request for comment.