Indonesia-based Lion Air is planning to place another aircraft order in February 2012 to upgrade its fleet following a $21.7bn contract with Boeing to buy 380 737 aircraft in November 2011.

Lion Air president and dirtector Rusdi Kirana told "In February next year we will sign another order."

The Indonesian airline did not disclose the details of the fleet acquisition plan, but it could be timed to coincide with the Singapore Air Show from 14-19 February.

Previously, the company had ordered 380 737 aircraft, which include 230 aircraft and purchase rights for an additional 150 planes worth $14bn.

The 230-aircraft order includes 29 737-900ERs powered by the CFM International CFM56 and 201 re-engined 737 MAXs.

The 737 MAX, powered by CFM International LEAP 1-B engines, will provide a 10-12% fuel burn improvement over most fuel-efficient single-aisle airplanes.

Delivery of the planes is scheduled between 2017 and 2025.

Kirana said that the primary benefit of the new Boeings will be fuel savings and lower maintenance costs and that the company is planning to replace its MD-90 fleet, as well as its 737-300 and 737-400s, with a more fuel-efficient fleet by 2013.

The 737 jets have a capacity of 157, whereas Lion Air’s 737-900ERs can carry 215 passengers with the same fuel burn and maintenance costs.

In addition, Lion Air’s operator PT Lion Mentari Airlines is expected to take delivery of 24 new Boeing B737-900ER aircraft worth $2.1bn in 2012.

The delivery is part of a $16bn order for 178 B737-900ER aircraft signed previously by the company.

Four of the B737-900ERs will replace MD-90s under a phasing out plan starting from 2012.

The carrier also plans to launch its first premium airline, named Space Jet, in 2013 and the new carrier is expected to begin operations within Jakarta before commencing international services.

Lion Air currently has a fleet of about 90 aircraft serving 50 cities within Indonesia and plans to increase its domestic market share from 47% to 60% over the next two years.