Not be outdone by mega-deals from Emirates and Qatar Airways in recent days, Jakarta-based Lion Air has announced a commitment to buy 201 737 MAXs and 29 Next-Generation 737-900ERs from Boeing.

With 230 airplanes at a list price of $21.7 billion, when finalised the deal will be the largest commercial airplane order ever in Boeing’s history by both dollar volume and total number of airplanes.

“The 737 MAX will be the future of Lion Air,” said Rusdi Kirana, Lion Air founder.

“The highly efficient, technologically advanced airplane will help Lion Air continue to bring low fares and allow us to open new destinations because of the longer range of the airplane.”

The agreement also includes purchase rights for an additional 150 airplanes.

Boeing and Lion Air are working to finalise details of the agreement.

US president Barack Obama witnessed the announcement at a ceremony at the East Asia Summit in Bali, Indonesia.

“We are proud that Lion Air picked the 737 once again, building on our successful partnership,” said Boeing Commercial Airplanes president Jim Albaugh.

“Lion Air was a leader when it was the launch customer for the 737-900ER in 2005 and today it continues to be a leader as the first airline in Asia to commit to the 737 MAX.”

Lion Air, Indonesia’s largest private airline, currently operates or has on order a total of 178 Next-Generation 737s.