Shanghai-based Juneyao was previously an all-Airbus carrier.

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Privately owned Juneyao Airlines of China has ordered five Boeing 787-9 jets with a list price of $1.3 billion, the companies said Thursday. The estimated actual value, according to airline consulting firm Avitas, is $700 million.

Shanghai-based Juneyao was previously an all-Airbus carrier. The deal is its first widebody order, and also involves options for five more 787-9s.