Air Arabia orders purchasing aircraft engines worth $3.36 ‎billion

Air Arabia, the Middle East’s low-cost airline, said on Tuesday that it had placed an order to purchase 240 LEAP-1A engines from CFM for an existing order of 120 Airbus A320neo aircraft.

According to Reuters, the airline said that the value of the asking price for the deal is $3.36 billion.

The deal was signed on the second day of the week-long Dubai Airshow, an event that had previously seen a flurry of orders for commercial aircraft and other aviation-related orders.

CFM is owned by GE and the French Safran Group.