VietJet Aviation Joint Stock Company has agreed to buy 100 passenger jets from US aircraft maker Boeing for $11.3 billion, the company said Monday.

The deal was signed this morning, May 23, by VietJet CEO, Nguyen Thi Phuong Thao and Boeing CEO, Ray Conner, in front of Vietnamese President Tran Dai Quang and US President Barack Obama, who is on a three-day trip to Vietnam.

According to VietJet CEO, Nguyen Thi Phuong Thao, the purchase of 100 B737 Max 200 will facilitate their opening of more international routes in the coming time.

“This is the largest ever single commercial airplane purchase in Vietnamese aviation history," she said. "The contract also helps raise trade turn-over between Vietnam and the US the development of Vietnamese aviation sector."

The airplanes will be delivered from 2019 through 2023, supporting Vietjet’s continuous growth of its domestic and international network in the region. The deal will also help Vietjet increase its fleet to more than 200 airplanes by the end 2023.

Boeing noted that the 737 MAX incorporates the latest technology CFM International LEAP-1B engines, Advanced Technology winglets and other improvements to deliver the highest efficiency, reliability and passenger comfort in the single-aisle market.

Also this morning, Deputy General Director of VietJet Dinh Viet Phuong and Deputy General Director of Pratt & Whitney Company under United Technologies Corp. also signed a contract in which the latter will supply PurePower Geared Turbofan and maintenance services for VietJet's A320 NEO and A321 NEO airplaines. The contract is valued at USD 3.04 billion.