Budget airline AirAsia is ordering 150 Airbus A220-300 jets in a deal valued at about $19 billion at list prices, marking the largest single order ever placed for the A220 planes.

The deal was announced Thursday at an Airbus factory in Mirabel, Quebec . Canadian Prime Minister Mark Carney attended.

Airlines are modernizing their fleets and moving to better manage rising costs by purchasing fuel-efficient narrow-body jets.

The Iran war has added to those pressures, pushing prices for all sorts of fuels higher.

AirAsia said in a statement that the A220 aircraft is more fuel efficient and emits less carbon, helping to boost efficiency and better cope with high fuel prices and other costs.…