Vietnamese budget airline VietJet has agreed to buy 100 passenger jets from US aircraft maker Boeing for $11.3 billion, the airline said Monday, in a deal signed in front of President Barack Obama in Hanoi.

In a statement, VietJet said the deal was "the largest ever single commercial airplane purchase in Vietnam aviation", and was penned in front of the Vietnamese and American leader, who is on a three-day trip to the communist nation.