Lufthansa Group has unveiled plans to procure 20 Boeing 787-9 and 20 additional Airbus A350-900 long-haul aircraft for $12bn as the airline intends to reduce operating costs.

The order will allow Lufthansa to replace its older four-engine aircraft and help the company improve the fuel efficiency of its fleet.

Scheduled to be delivered between late 2022 and 2027, the new aircraft will also deliver more comfort for passengers and less noise.

The $12bn order value is based on list prices. Lufthansa and the sellers have not disclosed the actual purchase price.

Lufthansa Group CEO and chairman Carsten Spohr said: “By replacing four-engine planes with new models, we are laying a sustainable foundation for our future in the long run.

“In addition to the cost-effectiveness of the A350 and B787, the significantly lower CO2 emissions of this new generation of long-haul aircraft was also a decisive factor in our investment decision. Our responsibility for the environment is becoming more and more important as a criterion for our decisions.”

“By replacing four-engine planes with new models, we are laying a sustainable foundation for our future in the long run.”

As of December 2018, Lufthansa operates a long-haul fleet of 199 aircraft, including 12 Airbus A350-900 aircraft.

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The long-haul fleet will see a new addition next year with the introduction of the Boeing 777-9.

According to the company, the new airplane being purchased will consume 25% less fuel when compared with their predecessor aircraft.

Lufthansa plans to modernise the entire long-haul fleet by 2025 in a move expected to yield estimated fuel savings of up to 500,000mt a year.

Meanwhile, the company has awarded a contract to Rolls-Royce to power 40 new aircraft, including 20 Boeing 787 Dreamliners and 20 Airbus A350 aircraft.

Lufthansa has also announced that it agreed to sell six of its 14 Airbus A380 planes to Airbus in 2022 and 2023 due to economic reasons. The move will bring Lufthansa’s A380 fleet size to eight.

Last month, Airbus revealed that it would end production the A380 superjumbo from 2021 due to declining orders.

The new order from Lufthansa will offer some relief to Boeing, which has been facing global scrutiny after one of the 737 MAX 8 aircraft operated by Ethiopian Airlines suffered a fatal crash on 10 March.