Wizz Air has completed its $17.2bn deal to buy 146 Airbus aircraft.

The eastern and central European budget carrier is to purchase 72 A320neos and 74 A321neos, with deliveries to take place between 2021 and 2026.

The airline this morning confirmed the deal to the London Stock Exchange following its memorandum of understanding signed in November. It has now been approved by shareholders.

Most of the aircraft are scheduled to enter service in 2025 and 2026.

The airline took delivery of 110 Airbus A321neos in 2015.

József Váradi, Wizz Air’s chief executive, said: “We are pleased to confirm this order with Airbus to purchase a further 146 A320neo Family aircraft. This further order of latest-technology aircraft will help us to continue to drive our operating costs even lower as we aim to become the absolute cost leader in Europe, which in turn will enable us to continue to offer the lowest fares and so stimulate travel by air throughout Europe while our customers enjoy great service on board one of the youngest fleets in Europe.

“It also provides significant flexibility to match our fleet to our growth requirements. The new aircraft will enable us to sustain our cost advantage through cabin innovations, the latest engine technology and other efficiency improvements, while enhancing our customer offering and experience.

“Airbus is a key partner for us and we believe they have the best aircraft to serve our markets and we are happy to be continuing our longstanding relationship with them.”