Global aircraft operating leasing company BOC Aviation has reached a purchase-and-leaseback agreement with Lebanon’s Middle East Airlines (MEA).

The agreement is for the delivery of up to ten new Airbus A321neo aircraft.

The A321neo planes are fitted with Pratt & Whitney’s PurePower PW1100G-JM engines and can each accommodate up to 240 passengers.

It is part of the Airbus’ A320 family of aircraft that also includes A318, A319neo and A320neo.

The jetliner features aerodynamic advances and cabin innovations. It offers reduced fuel consumption of at least 15% a seat from the first day of operations and 20% by 2020.

BOC Aviation chief executive officer and managing director said Robert Martin said: “We are very pleased to be working with Middle East Airlines once again on their fleet and network expansion plans, building on a long-term relationship that dates back over 20 years.

“This incremental capital expenditure for larger narrow-body new technology aircraft is yet another example of our disciplined investment in popular and in-demand aircraft.

“It also speaks to our capacity to provide innovative solutions for our customers and, more importantly, our long-standing and strong customer relationships with leading airlines like Middle East Airlines.”

The A321neo aircraft is expected to be delivered to BOC Aviation in 2020 and 2021.

Last month, BOC Aviation signed a purchase-and-leaseback agreement with Qatar Airways for three new Airbus A350 twin-aisle aircraft. The transaction is expected to close in the third quarter this year.