Japan Investment Adviser (JIA) has finalised a $1.12bn order to buy ten new 737 MAX 8s aircraft from Boeing.

A commitment for the order was made at this year’s Paris Air Show in July.

The latest deal represents the first direct aircraft order placed by JIA with Boeing and is expected to expand JIA’s fleet of next-generation aircraft.

JIA president and CEO Naoto Shiraiwa said: “The 737 MAX will provide us with a stronger competitive advantage in providing our future airline clients with reliable airplanes that make sense economically.”

"JIA has made the perfect selection for their new fleet strategy."

Through its JP Lease Products & Services (JLPS) division, the company currently manages a fleet of nearly 60 aircraft that features Boeing 737s and 777 planes.

Boeing Commercial Airplanes global sales and marketing senior vice-president Ihssane Mounir said: “JIA has made the perfect selection for their new fleet strategy, as the 737 MAX provides operators with market-leading economics and reliability.”

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According to Boeing, its 737 MAX aircraft family has been designed to provide improved performance, flexibility and efficiency, with lower per-seat costs and an extended range to help its customers open up new destinations in the single-aisle market.

Powered by new CFM International LEAP-1B engines, the aircraft family features Advanced Technology winglets, Boeing Sky Interior, large flight deck displays and other improvements.

Earlier this month, Boeing finalised an order to sell 12 737 MAX aircraft to US-based company Air Lease (ALC).

Image: A Boeing 737 MAX 8 aircraft. Photo: courtesy of Boeing.