Philippine Air, Avolon to finalise jet orders at air show -sources

(Reuters) - Philippine Airlines is set to finalise an order for nine Airbus A350-1000 wide-body jets at next week's Paris Airshow, two industry sources said.

The airline announced a provisional order in May to expand its route network as air travel recovers from the pandemic.

A company source said the deal would be finalised next week subject to final contractual negotiations.

Irish leasing firm Avolon will also firm up an order for 40 Boeing 737 MAX jets at the same event, other industry sources said.

The world's third-largest leasing firm said in April it had provisionally committed to ordering the 40 jets in a deal worth over $4 billion at list prices.

Avolon's jets are set for delivery from 2027 to 2030.

None of the companies involved agreed to comment.

Final contracts allow the deals to be placed in the order books of the respective manufacturers and generate deposits.

Aircraft deals are often announced in two stages, with provisional orders usually - but not always - leading to a firm announcement once the detailed fine print is agreed.

(Reporting by Tim Hepher, Neil Jerome Morales; editing by Jan Harvey and Jason Neely)