Ryanair’s shareholders have approved plans to purchase 100 Boeing 737-800 aircraft over the next six years.
The deal also includes up to 50 rolling options.
According to a statement issued by the airline, the 100 aircraft have a market value of $5bn.
Ryanair chief executive Michael O’Leary said: "This is a further element of our long-term growth strategy, which will enable us to offer even lower fares to more European consumers."