An order for 460 new aircraft has been placed by American Airlines with European planemaker Airbus and US manufacturer Boeing. Although the precise details of the deal are still to be revealed, it is worth many billions of dollars. The order is to be split between the companies with 260 new A320 aircraft coming from Airbus and 200 737s coming from Boeing.

According to American, the order is the largest ever made with the planes due to be delivered from 2013 through 2022. AMR Corporation, which owns AA, said the order of single-aisle aircraft would transform the carrier’s fleet. Gerard Arpey, chairman of AMR, said that within five years, American will be flying the youngest, as well as the most fuel-efficient, fleet of short- to mid-range passenger jets in America.

Arpey added that the new planes would help to cut operating and fuel costs as well as enhance financial flexibility. American Airlines is currently the fourth-largest airline on the planet in terms of passenger numbers.

Chief executive and president of Airbus, Tom Enders, described that AA order as a strong endorsement. He said that being able to rely on American Airlines as one of its major global customers was extremely gratifying. The 260 plane order will include single-aisle A319s, A320s and A321s.

According to Boeing, based in Chicago, the contract for 200 aircraft includes an option for AA to order an additional 100 planes. Both the A320 family and the Boeing 737 models are designed to carry around 200 passengers.