Malaysia Airlines Bhd. signed a deal to buy up to 50 new Boeing Co. aircraft as it seeks to cut costs and rebuild after the catastrophic loss of two jetliners in 2014.

The 50 737 MAX jets—25 on firm order, with options for another 25—are valued at $5.5 billion, but large customers typically extract discounts of up to 30%. The airline and Boeing didn’t disclose the price, The Wall Street Journal reported on Wednesday.

The new jets, which can optimally fly to destinations up to six hours away, will allow Malaysia Airlines to grow its regional routes as it scales back long-haul operations.

“Malaysia Airlines is now on a path to growth across the Asean region,” said Peter Bellew, who took over as chief executive of Malaysia Airlines last month, as Christoph Mueller stepped down after 14 months on the job.

In addition to the A380s, Malaysia Airlines currently operates 56 Boeing 737-800 jets and 15 midrange Airbus A330-300s.

Source: MENA