Boeing and Okay Airways have announced a commitment for 12 737s, including eight MAX 8s, three 737 MAX 9s and one Next-Generation 737-900ER airplane.

The agreement, valued at $1.3 billion at current list prices, is subject to the approval of the Chinese government and will be posted to Boeing's Orders & Deliveries website once all contingencies are cleared.

This commitment will mark the first 737 MAX 9 order by a Chinese airline and bolsters Okay Airways' 737 MAX portfolio to 17 airplanes. Included as part of the agreement, Okay Airways have rights to exercise options for eight additional 737 MAX 8 airplanes.

Okay Airways, the first privately owned airline in China, is headquartered in Beijing with its main hub at Tianjin Binhai International Airport with fleet of 14 737-800s, three 737-900ERs and one 737-300F.