Airbus Group SE will sell 50 A320neo planes to China Aircraft Leasing Group Holdings Ltd. at a list price of $5.42 billion.
China Aircraft Leasing, in a filing before the Hong Kong Stock Exchange on Dec. 29, said it will fund the purchase with internal funds, loans and borrowings.
The company said the actual purchase price would be lower than the list price as Airbus is likely to grant "significant price concessions."
Airbus is expected to deliver the aircraft in stages through 2023.
With this deal, the group's total order book will be increased to 252 aircraft: 202 from Airbus and 50 from Boeing.