LONDON  Air Lease Corporation (ALC) has signed a memorandum of understanding to purchase 25 A330-900neo jets at the Farnborough Airshow on Monday. The order, not firm, will place the leasing firm as the launch customer for the new aircraft.

The first aircraft,  are expected to be delivered in 2018. The company opted not to choose the smaller A330-800neo, though noted it retained the option to do so down the road.

At a list price of $275 million each, the order totals just shy of $7 billion.

President and COO of ALC John Plueger told reporters in a press conference that the company found the price difference “compelling”, underscoring a brewing pricing war between the neo and its competitor, Boeing’s 787 Dreamliner.

ALC also placed a firm order for 60 A321neo aircraft, valued at $7.2 billion. The company already has 50 of the jet on order, stemming from an earlier order at the 2012 Farnborough airshow and a top up order in 2013.