Aircraft manufacturer Boeing has confirmed that budget airline Ryanair has secured a deal worth up to $15.6 billion (£10.25 billion), which will see the firm take on 175 Next-Generation 737-800 vessels.

Ryanair chief executive officer Michael O'Leary said the purchase will take the company's fleet to over 400 planes and the new additions will create 3,000 jobs for pilots, cabin crew and engineers.

He also stated the deal will enable the carrier to boost its passenger capacity to 100 million a year by 2019.

Mr O'Leary insisted that Boeing's 737-800 crafts have been the cornerstone of Ryanair's success to date.

"These 175 new airplanes will enable us to lower cost and airfares even further, thereby widening Ryanair's cost and price leadership over other airlines in Europe," he remarked.

Meanwhile, Boeing chiefs confirmed that its 747-8 model has now served 100 airports around the world, despite only entering service just 16 months ago.