Copa Airlines has agreed to purchase 40 Boeing 737 Max aircraft, with the option for up to 20 more, the carrier and Boeing announced Tuesday. Copa estimates the value of the purchase at $13.5 billion.
The airline expects the new aircraft to be delivered between 2030 and 2034. The deal is in addition to 40 Boeing aircraft Copa previously ordered, which are pending delivery. In all, Panama-based Copa anticipates receiving more than 100 new aircraft over the next eight years and projects a fleet of over 200 planes by 2034.
The carrier's current fleet comprises 50 Boeing 737 Max aircraft.