Boeing and Icelandair have announced a commitment for 12 737 MAXs, valued at more than $1.2 billion at list prices.

The commitment by the Icelandic carrier includes 737 MAX 8s and 9s.

Boeing looks forward to working with Icelandair to finalize the details, at which time the order will be posted as a firm order to the Boeing Orders & Deliveries website.

“This commitment is the result of our research into what aircraft manufacturers have on offer to help us strengthen and grow our fleet and our network towards the future,” said Bjorgolfur Johannsson, Icelandair Group president.

“We have had a successful relationship with Boeing for decades and we are pleased to continue our cooperation for years to come.”

The 737 MAX is a new-engine variant of the world’s best-selling airplane and builds on the strengths of today’s Next-Generation 737.

The 737 MAX incorporates the latest-technology CFM International LEAP-1B engines to deliver the highest efficiency, reliability and passenger comfort in the single-aisle market.

Airlines operating the 737 MAX will see a 13 percent fuel-use improvement over today’s most fuel-efficient single-aisle airplanes.