Kathmandu. European aircraft manufacturer Airbus has received an order from aircraft leasing company Aviation Capital Group (ACG) to build 75 A320neo aircraft.

The order comes at a time when demand for fuel-efficient aircraft is on the rise.

According to Airbus, with this order, ACG’s number of Airbus aircraft will reach 190. ACG had earlier this year ordered 50 Boeing 737 MAX aircraft.

Thomas Baker, chief executive of ACG, said the order, the largest order in the company’s nearly 40-year history, was a sign of confidence in the long-term future of air travel.

According to the Japanese aircraft rental company Tokyo Century, the parent company of ACG, the list price of the 75 aircraft is about $12 billion. However, because aircraft manufacturers usually offer discounts on large orders, the actual purchase price may be lower than the list price.

Airbus’ A320neo aircraft is 20 percent more fuel efficient than the previous A320 model. This single-lane aircraft is one of the most popular passenger aircraft in the world.

Demand for aircraft leasing is expected to pick up as global passenger traffic picks up and airlines increasingly replace older planes with new-generation aircraft, the Tokyo Century reported.