The JetBlue plane is shown. Reuters

JetBlue Airlines is the first US airline company to make a deal at the Paris Air Show, which is happening this week at Le Bourget airport.

The discount airline, perhaps best known for its in-flight television on all flights, has ordered 40 Airbus A320neos. On paper, the total cost of the planes is $3.4 billion.

According to reports, JetBlue will convert an outstanding order of 30 A320s to the larger A321 models as part of the deal. They will also delay the purchase of eight A320s until 2017.

The A321s feature enhanced wingtips with something called the Sharklet, which is a new type of winglet - an upturned addition to the end of the plane wing.

We have taken significant steps in reducing our annual capital commitments through the next five years, while ensuring we are positioned for long-term success in a competitive, fuel-challenged, environment, JetBlue Chief Financial Officer Ed Barnes told Reuters.

JetBlue is already one of the largest A320 Family operators in the world, stated John Leahy, Airbus Chief Operating Officer Customers. By adding the A320neo and the A321 with Sharklets to its fleet, the airline is demonstrating why it continues to grow and lead so successfully - it drives evolution in the industry with the latest technology and trends.

Airbus, which is making deal after deal at the airshow, has racked up an estimated $29 billion in Paris so far.

United is reported to have pledged its commitment to 125 new planes, including 50 Boeing 737s, 50 Boeing 787s and 25 Airbus A350xwbs.

The Paris Air Show is the biggest and oldest air show in the world. Established in 1909 the airshow is now held every-odd year. 2011 marks the 49th event held. It runs from June 20 to the 26th at Paris' Le Bourget airfield.

The show is organized by French aerospace organization Groupement des Industries Françaises Aéronautiques et Spatiales. It is both a fun event for visitors and a serious business conference. Many large-scale international deals take place, while new products and prototypes are displayed to potential buyers.