Air New Zealand said Monday it had ordered eight Boeing 787-10 Dreamliner aircraft in what it described as a "multi-billion dollar investment".
It said the first of the wide-bodied, long-range aircraft would be delivered from 2022-27, replacing the airline's ageing complement of eight 777-200 jets.
Air New Zealand said it had secured a "significant discount" on the $US2.7 billion list price of the eight new aircraft but would not be publicly releasing how much it was paying.
Chief executive Christopher Luxon said the 787-10 was "perfect" for the airline's Pacific Rim focus.
"In connecting New Zealand with the world, we naturally offer a high proportion of long-haul flights, and these state-of-the-art aircraft will ensure we continue to operate one of the world's youngest and most efficient jet fleets," he said.
The airline is believed to have selected the 787-10 over the Airbus A350XWB.
The new aircraft will be powered by General Electric engines, rather than the Rolls Royce Trent ones used in Air NZ's existing fleet of 787-9s, which have experienced maintenance issues.
Luxon said Air New Zealand had purchased options to increase the order from eight to up to 20 aircraft if required.