Kuwaiti lessor Alafco  placed a $4.6 billion expanded order for 50 Airbus  A320neo passenger jets at the Dubai Air Show on Monday. The order supersedes a provisional order for 30 aircraft announced at the Paris Air Show in June.

Reuters reported last week that Alafco was expected to expand its order for A320neos, a revamped version of Airbus's best-selling narrowbody which competes with the Boeing  737.

Alafco chairman Ahmad Al Zabin said he was not greatly concerned about economic turmoil in Europe derailing long-term aircraft demand especially in the Middle East.

"We are talking long term, what is happening now is short term," he told a news conference. -Reuters