A Miami-based investment firm has ordered 24 737 MAX 8 jets, with an agreement that includes purchase rights for 60 additional planes, Boeing said Friday.

The firm, 777 Partners, will lease the planes to low-cost carriers in which it has invested, according to a statement from the companies.

“The 737-8 aircraft are a fantastic addition to our aviation portfolio and will enable our partners to leverage the jets’ superior economic performance to deliver low fares for their passengers while reducing their carbon footprint,” said Joshua Wander, founder and managing partner of 777 Partners. “The retrenchment of traditional carriers globally has created an unprecedented market opportunity for more agile and cost-efficient operators. These aircraft will enable our operators to accelerate the recovery in the destinations they serve.”

777 Partners’ portfolio includes Flair Airlines, a 12-year-old Canadian ultra-low-cost carrier based in Edmonton, Alberta. It also is an investor in Value Alliance, described as a “pan-regional low-cost carrier alliance” of several Asia Pacific airlines — Cebu Pacific, Cebgo, Jeju Air, Nok Air, All Nippon Airlines, NokScoot and Scoot. 

For the first time in 15 months, Boeing this week reported more new orders than cancellations for commercial airplanes in February.

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The company received 82 new orders and 51 cancellations for a net gain of 31. In addition, Boeing put orders for 16 planes back into its backlog, indicating it is more confident that those sales will go through.

The company is reportedly also close to clinching a big deal with Southwest Airlines for dozens of 737 MAX 7 jets.