Panamanian President Juan Carlos Varela Rodriguez and U.S. President Barack Obama witnessed a historic agreement in which Copa Airlines and Boeing announced an order for 61 Boeing 737 MAX8 and MAX9 airplanes. The total value of the deal is $6.6 billion U.S., making it the largest commercial transaction between a Panamanian and a US-based company ever.

“Copa is proud to sign this landmark order in the presence of our countries’ two presidents,” said the CEO Pedro Heilbron. “The Next-Generation 737 is the backbone for our fleet today, and our order for the 737 MAX shows our continued commitment for the future to bring people together across all of the Americas using the most modern and efficient airplanes in the sky, as well as our Hub of the Americas in Panama City.”

Copa Chairman Stanley Motta noted that “with the 737 MAX our customers will enjoy all the benefits of the best technology available in the market. This order is an important step in strengthening Copa’s leadership in the region as we enhance our world-class product and expand our network. Similarly, we are very excited about bringing new opportunities for Panama’s economic growth in the process.”

Copa Airlines will use the airplanes to replace existing aircraft and support the carrier’s plans for strategic growth. Copa will be the first airline in the region to operate the 737 MAX 9 on deep South American routes. The 737 MAX 9’s range and passenger comfort are ideally suited to Copa’s long-haul route network.

Copa Airlines offers passengers fast and convenient connections to 73 destinations in 30 countries in North, Central and South America and the Caribbean through its Hub of the Americas in Panama City, the most internationally connected airline hub in the region. For the last two consecutive years, FlightStats has recognized Copa as “Best Airline in Latin America” for its on-time performance and quality of service.