SINGAPOREAirbus said on Wednesday that it has finalized a deal to sell seven A350 freighters to Singapore Airlines (SIA), in a deal that would make it the first airline to operate the new model.

Singapore Airlines had signed a provisional agreement in December 2021 to order the European planemaker's first dedicated freighters.

"The order underscores the importance of the cargo market to the SIA Group," Goh Choon Phong, the airline's CEO, said in a statement.

"These new-generation aircraft will substantially increase our operating efficiencies and reduce our fuel burn."

The new freighters will replace Singapore Airlines' seven ageing Boeing 747s. The companies did not provide a value for the order, which was signed at the Singapore Airshow.

The deal allows the airline to swap part of the order for 15 A320neo jetliners and two A350-900 passenger versions that it had previously ordered from Airbus and remain to be delivered.