The deal, which Tui claims will see them acquiring the new planes at a discount to the list price of $6.1 billion, includes an option to purchase a further 90 aircraft of the same model at a later date.
Tui, which is the world's largest tour operator with a presence in 180 countries, currently operates 141 aircraft across six European airlines, Thomson Airways, Tuifly, Tuifly Nordic, Arkefly, Jetairfly and Corsair.
Boeing says its 737 MAX plane will burn 13 percent less fuel than other 737 models, meaning that the purchase of so many by Tui will ultimately help boost the businesses fuel efficiency and hopefully lower the associated costs.
Tui said it expected the aircraft to be delivered between January 2018 and March 2023.
