Boeing Stock Rises as Ryanair Provides Hope

A Ryanair Boeing 737-8AS aircraft is reflected in a window as it prepares to land at London’s Gatwick Airport in 2023. (Ben Stansall / AFP via Getty Images)

Boeing stock rose early Monday, possibly getting a boost from an important customer for its 737 MAX jets: Ryanair .

The low-cost carrier, based in Ireland, reported results for the first quarter of its 2026 fiscal year on Monday. Operating profit came in at about $1.1 billion, better than the $1 billion Wall Street projected, according to FactSet.

Ryanair’s U.S.-listed American depositary receipts added 6.6% on Monday. Boeing stock traded as high as $232.50, but closed at $229.32, down two cents, while the S&P 500 added 0.1% and the Dow Jones Industrial Average fell less than 0.1%.

Boeing investors can be happy when airlines are making money, but that isn’t the main thing to focus on. CEO Michael O’Leary and CFO Neil Sorahan had several things to say about Boeing. Many were positive.

For starters, they are expecting deliveries of the planes to speed up as Boeing ramps up production. While Boeing recently achieved a rate of 38 a month, the maximum currently allowed by the Federal Aviation Administration, Ryanair appears confident that the rate will be raised to 42 in the coming months.

The airline operates a fleet of more than 600 737 jets. It has more than 300 on order.

While the MAX 8 and MAX 9 are the currently certified models of the plane, Ryanair also expects certification of two derivative versions, the 737 MAX 7 and MAX 10, in late 2025 or early 2026. Ryanair is looking forward to introducing the larger MAX 10, which will offer more seats and drive down the per-seat cost of flying.

Boeing has more than 1,200 unfilled orders for MAX 10 jets, accounting for roughly 25% of the total for 737 jets.

Tariffs remain a potential risk, however. The U.S. is threatening 30% import tariffs on European Union goods, and the EU has made it clear it could retaliate with levies of its own. High tariffs could delay deliveries, according to Ryanair, which believes its fixed-price contracts mean Boeing would be on the hook for the extra expense.

Boeing didn’t respond to a request for comment.

O’Leary, however, sounded confident that aerospace would be excluded from tariffs in any trade deal.

“To the extent that [tariffs are] imposed, I think they’re likely to be short-lived and, while Boeing are liable for the tariffs, we would work with Boeing,” said O’Leary on a conference call. “I think, either by delaying deliveries or perhaps looking at taking some deliveries through the U.K., which will be a way of allowing Boeing to deliver aircraft to the Ryanair Group without attracting tariffs from the States.”

The next round of U.S. tariffs are set to take effect on Aug. 1.

Write to Al Root at allen.root@dowjones.com