The number of planes on order is almost four times the size of the carrier’s current fleet, which comprises 61 Boeing 737-800 aircraft.
The value of the Flydubai order is nearly twice that signed on 12 November between the US plane manufacturer and Emirates Airline, which placed an order for 40 787-10 Dreamliners worth an estimated $15.1bn.
It is the third order made by Flydubai since its founding in 2008.
The first order, for 50 737-800s, was made in 2008. The second order, for 75 737 MAX 8 planes, was made in 2013.
The new planes are expected to support the carrier’s expansion plans as well as keep its average fleet size young.
Emirates and Flydubai recently began implementing an enhanced code-share agreement, which now allows Emirates to fly to 16 new destinations previously served exclusively by Flydubai.
While the two carriers have the same shareholders, they are run by two separate management teams.
In March 2016, a Flydubai flight crashed while flying from Dubai to the Russian city of Rostov on Don. The crash killed all 55 passengers and seven crew on board. It was the first fatal accident involving either of Dubai’s two airlines.