Reserving the right to order 35 more jets, Russia will buy 50 Boeing 737 Next Generation aircraft worth $3.7 billion for Aeroflot, the aerospace giant said on Sept. 17.
"Russian Technologies' choice of Boeing's planes is yet another important step in our long-term cooperation," Boeing Commercial Airplanes CEO Jim Albaugh said.
Albaugh and the head of state-run Russian Technologies Sergei Chemezov inked the contract during an investors' forum in Russia's Black Sea resort city of Sochi.
The purchase is primarily destined for Russian flag carrier Aeroflot, a member of the Sky Team alliance, which has recently eyed ambitious plans for expansion, particularly in Eastern Europe.
In June, President Barack Obama had touted the U.S.-Russian jet deal during a visit by Kremlin leader Dmitry Medvedev to Washington, saying it could create 44,000 jobs.
Boeing said it currently has an order backlog of 2,000 for its 737 liner.
The jet maker announced in September it would accelerate the production rate of the aircraft to 38 planes per month from 2013 to meet the demand.
Copyright Agence France-Presse, 2010