India's SpiceJet is to buy 205 Boeing jets in 22-billion-dollar deal. Picture: Pexels

New Delhi  - Indian budget airline SpiceJet will purchase 205 planes worth 22 billion dollars from US manufacturer Boeing, one of the biggest orders ever made by an Indian airline, according to an agreement announced Friday.

The deal includes 100 new 737 Max 8 jets, builds upon an existing order for 55 aircraft, SpiceJet said in a statement. The airline also has purchase rights for 50 additional jets.

"With this, the total order of 205 aircraft is valued at 22 billion dollars ... at list prices," SpiceJet said in an emailed statement.

The airline was on the verge of closure two years ago as it was making heavy losses.

"Our turnaround story has been one which has very few parallels in the world today and we are proud of it," SpiceJet chairman Ajay Singh said.

The agreement also provided a big boost for Boeing in India. Its rival, European aircraft producer Airbus, has won record deals from Indian airlines in recent months.

Last July, Indian budget airline GoAir signed an agreement to buy 72 single-aisle aircraft from Airbus for 7.7 billion dollars at list prices.

Previously in 2015, another budget airline, IndiGo finalized a deal to purchase 250 single-aisle jets from Airbus, in a deal then estimated at 26.55 billion dollars.