On Thursday, Alaska Air Group’s (NYSE:ALK) Alaska Airlines said it would purchase 50 737 jets, 37 of which will be 737 MAX planes. The entire deal is worth $5 billion, Reuters noted.
That marks the biggest aircraft order in Alaska Airlines’ history. Its current fleet comprises 120 jets, all 737s.
In addition to the 737 MAX planes, Alaska Airlines has ordered 13 next-generation long-range 737s. Jets included in the current order are scheduled to begin delivery in 2015. The order is expected to be completed in 2022.
Alaska Airlines’ order increases the number of 737 MAX jets under order to 858.
The 737 Max features an enhanced engine that reportedly lowers fuel consumption. It competes with European rival EADS Airbus’ A320 jets.
Shares of Boeing rose more than 1% in Thursday morning trading, while Alaska Air Group shares rose fractionally.