MIAMI — China’s first privately owned airline, and new low-cost carrier, Okay Airways, just sealed an agreement with Boeing for five 787-9 Dreamliners, subject to Chinese authorities approval. The order is valued at $1.4 billion, list prices.

The ceremony was held at Boeing’s headquarters in Seattle. Previously, Okay Airways signed a Memorandum of Understanding (MoU) with Boeing for the five Dreamliners and eight 737 MAX 10 at the Paris Air Show 2017.

READ MORE: PAS 2017 Analysis: Okay Airways Orders 15 Boeing 737 MAX & 787-9 MOU

According to Li Zongling, the carrier’s President, the order “will strengthen” Okay Airways’ plan to expand into the long-haul market. “Today’s order for the all-new, super-efficient 787-9 Dreamliner will strengthen Okay’s position to expand into the long-haul market.”

In July, the Tianjin-based airline agreed with Beijing-Capital Airport Group to set a hub at the new facility to operate their intercontinental routes with the Dreamliners from Beijing’s new airport that’s set be open in 2019.

“We are committed to investing in our aircraft fleet in order to keep growing ahead of the market and enhancing our customers’ flying experience,” said Li Zongling.

The 787-9 is a great step for the Chinese carrier’s growth. The airline is not only the country’s first privately-owned airline, it also has a fleet of 26 Boeing 737s that fly to 70 domestic and regional destinations.

“The 787-9 will complement Okay’s single-aisle fleet and enable them to profitably open new long-haul routes,” said Ihssane Mounir, Boeing Global Sales, and Marketing.

According to the manufacturer, more than 600 Dreamliners already entered commercial service for more than 200 million passengers, enabling airlines to open more than 170 new nonstop routes around the world.

The aircraft type has more than 1,280 orders from 70 customers worldwide.