A Boeing 787 aircraft. Credit: Boeing.

India-based airline Vistara has signed two letters of intent (LoI) with Airbus and Boeing for the purchase of 19 jets valued at a list price of $3.1bn.

The deals include 13 A320neo and A321neo aircraft from Airbus, and six Boeing 787-9 Dreamliner planes.

Vistara also has the option to buy seven additional A320neo family aircraft as part of its deal with Airbus.

The company will further lease 37 new A320neo family aircraft from leasing companies, bringing its total number of A320neo-family aircraft to 50.

Vistara’s new A320neo and A321neo aircraft will be powered by CFM International’s LEAP 1-A engines and are expected to be delivered between 2019 and 2023.

“These orders are a landmark step in Vistara’s journey and demonstrate our deep-rooted commitment to contributing to the rise of the Indian aviation industry.”

Once delivered, the aircraft will expand Vistara’s domestic network and support its global operations planned for later this year.

As part of the LoI with Boeing, Vistara has the purchase rights for four additional 787 Dreamliner family aircraft.

To be powered by General Electric GEnx-1B engines, the Dreamliners are due to be delivered between 2020 and 2021.

Vistara is expected to use its new Dreamlinersfor medium-haul and long-haul international flights.

Vistara CEO Leslie Thng said: “India’s position as the world’s fastest growing domestic aviation market and its impressive growth in air passenger traffic that has more than doubled over the last decade, makes us confident of our aggressive plans for domestic expansion and international foray.

“These orders are a landmark step in Vistara’s journey and demonstrate our deep-rooted commitment to contributing to the rise of the Indian aviation industry and to offering more choices to our customers.”

Vistara, a joint venture of Tata Sons and Singapore Airlines, currently operates a fleet of 13 Airbus A320ceo and eight A320neo aircraft serving 22 destinations.