Boeing [NYSE:BA] and BOC Aviation Limited [HKEx: 2588] announced a memorandum of understanding for 10 737 MAX 10 airplanes, subject to internal approvals, today at the 2017 Paris Air Show. The announcement is valued at approximately $1.25 billion at list prices and will be posted to the Boeing Orders and Deliveries website once finalized.

BOC Aviation is one of the first aircraft operating leasing companies to order the newest member of the 737 MAX family. The company has committed to more than 300 Boeing aircraft since establishment, it took delivery of its 200th Boeing airplane in March 2017 and has an additional 74 737 MAXs on order.

"BOC Aviation and Boeing have been partners for more than 20 years, providing the very best airplanes to their customers around the world and the 737 MAX 10, with its lowest seat costs of any single-aisle airplane, will continue this tradition," said Ihssane Mounir, senior vice president, Global Sales and Marketing, Boeing Commercial Airplanes. "We are honored that BOC Aviation has again placed its confidence in Boeing and the 737 MAX family."

The 737 MAX 10 will be the most profitable single-aisle airplane, offering the lowest seat costs ever. The entire 737 MAX family has been designed to offer customers exceptional performance, flexibility and efficiency, with lower per-seat costs and an extended range that will open up new destinations in the single-aisle market.

Like Boeing's other 737 MAX models, the MAX 10 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.

The 737 MAX is the fastest-selling airplane in Boeing history.