Jet2 PLC (AIM:JET2) said it entered into an agreement with Airbus to buy 35 new firm-ordered A320 neo aircraft, with the option to extend this up to 71 air vehicles.
The airline said it intends to meet the future anticipated growth of its leisure travel business and to refresh its existing aircraft fleet.
The ordered aircraft deliveries will stretch over three years until 2031 and represent a total value of US$3.9bn at the base price.
The total transaction value for up to 71 aircraft is roughly US$8bn, the company said, adding that it has negotiated "significant" discounts from the base price.
Philip Meeson, executive chairman, commented: “We are delighted to build on our existing relationship with Airbus and to have placed this additional aircraft order which provides the company with certainty of supply well into the next decade.
“The order reflects our confidence that we have a much-loved product built on sector-leading customer service which we can continue to grow and these aircraft will ensure our customers have a wonderfully comfortable and enjoyable experience as they travel with us for their well-deserved real package holidays from Jet2holidays® or scheduled holiday flights with Jet2.com."
The order is in addition to the A321 neo aircraft orders announced last year, meaning it now has a total of 98 firm ordered planes, with the potential of being extended to up to 146.
Jet2 will retain flexibility in determining the most favourable method of financing the aircraft, which will be through a combination of internal resources and debt, it said in a statement Tuesday.