United States plane manufacturer Boeing Co. and European competitor Airbus SAS  is 'racing' to supply FlyDubai with 50 narrow body aircrafts, said the budget carrier today. The fleet is priced at US$5 billion, according to FlyDubai.

The discount carrier currently operates exclusively with 30 Boeing 737s. They said that the company is considering both Boeing's 737 Max and rival Airbus' A320neo models. FlyDubai said that both it will decide on who gets the deal by November at the latest. The announcement will coincide with the Dubai Air Show, according to chief executive officer Ghaith Al Ghaith.

"We will choose what's best for us and what's best could be a new type," said Al Ghaith. "Both aircraft appeal to us. The best decision is the one that costs us the least," he continued.

FlyDubai's closest rivals are Air Arabia and Jazeera Airways from Kuwait. The low-cost sector was touted as one of the most robust markets in the Middle East.