The blockbuster order is the first that the Jakarta-based Lion Air, a loyal Boeing customer, has placed with Airbus. The deal continues a streak by Airbus, which last week completed two major orders with the Lufthansa Group and Turkish Air.
Lion Air's order, valued at $24 billion at list prices, consists of 109 A320 new engine option aircraft, 65 A321neo jets and 60 of the existing version of A320 jets. Jet makers typically discount from list prices.
"This landmark order will ensure that the Lion Air Group will continue its expansion with one of the most modern and advanced fleets in the world," Rusdi Kirana, CEO of Lion Air Group, said in a statement.
A year ago, Lion Air signed a similar deal with Boeing, ordering 230 of the Chicago-based company's 737 aircraft, the rival to Airbus' A320. Lion Air's order with Boeing included options for another 150 jets.
Lion Air's existing fleet includes Boeing 737s and MD-90s.
The carrier's first Airbus order ""underscores the market-leading position of the A320 Family, which continues to attract new customers for both the current and new engine options," Fabrice Brégier, Airbus president and CEO, said in a statement.