VietJetAir, the largest Vietnamese private airline, finalised the agreement Tuesday with Airbus, whose largest factory is in the south-western French city of Toulouse.
The company signed a deal for 42 A320 neos,14 A320 ceos and seven A 321 ceos and an option for 30 more planes.
The deal will mean VietJetAir's fleet has10 times more planes that today.
The agreement was reached between VietJetAir CEO Nguyen Thi Phuong Thao and Airbus boss Fabrice Brégier at the Singapore Airshow.
VietJetAir is hoping to conquer the ever-evolving low-cost market for airline companies in Asia.
The company, whose first flight was in 2011, is the first airline offering international and internal flights.
The deal "reinforces the A320 family's choice", Brégier said.
The majority of the Airbus workforce is located in the French cities of Toulouse, Saint-Nazaire and Nantes.