Asia Tech Wire (July 23) -- Vietnamese low-cost airline Vietjet on Monday signed a contract with Airbus to buy 20 A330neo wide-body aircraft.

The deal is worth US$7.4 billion at Airbus' list price.

VietJet Air said the planes will replace its current fleet of A330-300s and support its strategic plan to expand its intercontinental flight network.

The news comes after Airbus sought orders for its A330neo airliners at this year's Farnborough Air Show, with potential buyers including Saudi Arabia's Flynas and Flyadeal, and Vietnam's VietJet Air.