Novus Aviation Capital, a Dubai-based aircraft lessor, announced on Thursday its first direct agreement with Boeing for up to four 777-300ER aircraft, valued at $1.44 billion.

Novus said it has invested in the Boeing 777 over the last decade, with proven return on investment as the aircraft model remains in demand for long-haul airline customers globally.

The deal was announced at the Farnborough International Airshow, and Boeing said the order will be reflected on its orders and deliveries website once it is finalised.