SINGAPORE (Oct 24): Singapore Airlines has formally signed a firm order with Boeing for 20 777-9s and 19 787-10s valued at US$13.8 billion ($18.9 billion).

The purchase agreement comprises the 39 firm orders, as well as six options for each aircraft type which if exercised will enlarge the deal to as many as 51 aircraft.

The signing took place at the White House in Washington DC on Monday, at a ceremony witnessed by US President Donald Trump and Prime Minister of Singapore Lee Hsien Loong. It represents the finalisation of an agreement that was announced in February 2017 as a letter of intent.

Signing the agreement for SIA was CEO Goh Choon Phong, with Chairman Peter Seah. Signing for Boeing was Kevin McAllister, President and CEO, Boeing Commercial Airplanes, with Dinesh Keskar, Senior Vice President, Asia Pacific & India Sales, Boeing Commercial Airplanes.

“SIA has been a Boeing customer for many decades and we are pleased to have finalised this major order for widebody aircraft, which will enable us to continue operating a modern and fuel-efficient fleet,” says Goh, “These new aircraft will also provide the SIA Group with new growth opportunities, allowing us to expand our network and offer even more travel options for our customers.”

The 777-9s are intended primarily for long-haul routes and are due for delivery from the 2021/22 financial year. The 787-10s are to be operated on medium-range routes and are due for delivery from the 2020/21 financial year.

SIA is due to take delivery of the world’s first 787-10 in the first half of 2018, from a 2013 order with Boeing for 30 aircraft.

SIA has more than 50 current-generation Boeing 777 aircraft in service. Subsidiaries SilkAir, Scoot and SIA Cargo also operate Boeing aircraft, with 737 MAX 8 and 737-800, 787-8/9 and 747-400 Freighter types in service, respectively.

Shares in SIA closed 2 cents higher at $10.26 on Monday.