Flydubai Confirms Order of 86 Boeing Jets

Boeing and flydubai announced Monday a firm order for 75 Boeing 737 MAX 8s and 11 Next-Generation 737-800s, the U.S. company's largest single-aisle airplane order in the Middle East.

The order is valued at $8.8 billion at list prices, the companies said in a statement. Aircraft orders are often negotiated at a discount.

In addition, flydubai, the low-cost airline set up in 2008 by the government of Dubai, has an option to buy 25 additional 737 MAXs.

The purchase was first announced at the 2013 Dubai Airshow in November. At the time, flydubai made a commitment to buy up to 100 737 MAX 8s and up to 11 Next-Gen 737-800s.

Ghaith Al Ghaith, flydubai chief executive, said that the new airline had a "tremendous year" in 2013. The airline launched 16 new routes, achieved a profit in its third year of operation and launched a business class service.

"The confirmed order for 75 737 MAXs and 11 Next-Generation 737-800s signifies the maturing of the airline and the strength of our business model as well as supports flydubai's ambitious growth," he said.

The new 737 MAX will be 14 percent more fuel efficient than most single-aisle airplanes today, Boeing says. Its first flight is scheduled in 2016 with customer deliveries planned to begin in 2017.

In 2008, flydubai placed its first order for 50 Next-Generation 737-800s at the Farnborough Air Show and took delivery of its first airplane in 2009. To date, flydubai's all-Boeing fleet has grown to 34 Next-Generation 737-800s.