FedEx Corp has confirmed the market speculation, as reported by Payload Asia last week, by signing a deal to purchase 50 additional B767-300 freighters in the biggest order ever for the aircraft type, allowing the aircraft maker to extend its production line well into the next decade.

The deal, announced in a statement by FedEx includes options for another 50 B767Fs and is worth US$9.97 billion at list prices. FedEx said the aircraft will be delivered by Boeing for its FedEx Express arm beginning in FedEx’s 2017 fiscal year, with delivery of all fifty by FY2023. The latest deal brings FedEx’s firm orders for 767Fs to 106 and extends the company’s drive to modernise its fleet.

“Acquiring additional 767F aircraft is a continuation of our very successful air fleet modernisation programme and will enable us to reduce structural costs, improve our fuel efficiency and enhance the reliability of our global network,” David J. Bronczek, president and chief executive officer of FedEx Express, said in the statement.

FedEx, in addition to the 767F orders, also has committed to 18 B777 freighters. The 7B67Fs will replace a number of older freighters, including MD10s and MD11s as well as A300-600s and A310s, which FedEx plans to retire in the coming years.