The deal is estimated at $1.0 billion.

“Middle East Airlines-Air Liban (MEA), the flag carrier of Lebanon, has signed a Memorandum of Understanding (MoU) for five A320neo and five A321neo aircraft plus eight options,” Airbus said in an official statement. [Link]

The neo refers to “new engine option” as the new planes have 15% less fuel consumption, 8% lower operation cost, less noise production and a reduction of nitrogen oxide (NOx) emissions by at least 10% compared to the A320 series according to Airbus. [Wiki]