Tibet Financial Leasing has signed a memorandum of understanding with Boeing to buy 20 aircraft, Boeing China announced Monday.

Boeing China said the airplanes included 737 MAX 10 and 737 MAX 8 models, and that Tibet Financial Leasing had chosen Boeing to launch its aviation leasing business.

"We are delighted to welcome Tibet Financial Leasing as a new Boeing customer and a launch customer of the newest 737 MAX family member," said Ihssane Mounir, senior vice president for Global Sales and Marketing, Boeing Commercial Airplanes.

"As leasing companies are playing an increasingly important role in the world' s aviation sector, we are proud to support Tibet Financial Leasing's takeoff and future expansion," he added.

Registered in Lhasa, Tibet Financial Leasing was established as the first financial leasing company in Tibet Autonomous Region in 2015, with approval from the China Banking Regulatory Commission.