Azerbaijan-based airline Silk Way has placed a $1.1bn order to purchase ten 737 MAX 8 aircraft.

Based on current list prices from Boeing, the order is expected to help the airline to expand its global and regional presence.

The airline currently has a fleet of seven Boeing airplanes, including two 767-300 freighters, three 747-400 freighters and three 747-8 freighter aircraft.

Silk Way president Zaur Akhundov said: “Silk Way’s success and profitability is a direct result of investing in its fleet and services and growing its regional and international footprint.

“I am confident we will maintain our rate of growth, supported by ten new Boeing 737 MAX 8 airplanes.”

According to Boeing, its 737 MAX family of aircraft has been designed to offer improved performance, flexibility and efficiency to the users.

The aircraft family also offers lower per-seat costs and includes an extended range that helps to explore new destinations in the single-aisle market.

Boeing is planning to build a smaller and higher capacity version of its 737 MAX 8 and 9 variants by 2019.

“Silk Way’s success and profitability is a direct result of investing in its fleet and services and growing its regional and international footprint."

The smaller version is named MAX 7, while the higher capacity model has been called MAX 200.

Earlier this month, Boeing entered a memorandum of agreement (MOA) with Iran’s Aseman Airlines to sell 30 737 MAX airplanes, valued at $3bn at list price.

The company has so far received more than 3,700 orders for its 737 MAX family aircraft from 86 customers worldwide.

Image: A Boeing 737 MAX 9 aircraft in the sky. Photo: courtesy of Boeing.