A Chinese aircraft leasing company said Thursday it will buy 50 Airbus A320 aircraft in a deal that, at book prices, is worth an estimated at between $3.5 billion and $4 billion.

ICBC Financial Leasing Co. Ltd. is purchasing 30 A320ceo and 20 A320neo, making ICBC the first Chinese company to commit to the A320neo, which is expected to begin flying in 2015.

The government's Xinhua media agency put the value of the deal at $3.5 billion, but at the aircraft's listed price the deal could be worth closer to $4 billion.