The airline also has options to purchase 15 additional 737 MAX jets which, along with existing lease agreements, could take the airline's new fleet to 40 aircraft.

"The efficient Boeing 737 MAX, together with financial and operational support from our partners at Griffin and Bain Capital, gives us the solid foundation necessary to provide flights at affordable prices to travelers in the region," said Victor Pacheco Mendez, founder and executive officer of Arajet. "These partners believe in our vision and see the same bright future for this market and beyond. The entire team was elated to see our first aircraft arrive in Santo Domingo a few days ago, and we are eager to expand our fleet with more of these amazing jets in the months ahead."

The airline, based in Santo Domingo, Dominican Republic, will leverage the range of the 737 MAX to serve a large number of traditional and underserved markets in the continental United States, Brazil, Colombia and beyond.

Arajet's first jet, a 737-8 leased from Griffin Global Asset Management, was delivered earlier this month.

"The 737 MAX is the perfect fit for Arajet and it's an honor to welcome this exciting new operator to the Boeing family," said Mike Wilson, vice president of sales, Latin America & Caribbean, Boeing Commercial Airplanes. "Flying an exclusive 737 MAX fleet will enable Arajet to save on fuel, maintenance and operations costs, and pass those savings on to its customers."

As travel and tourism recovers globally, Arajet is expected to create approximately 4,000 new jobs and significant new economic development to the island nation. Tourism makes up 8.4% of the Dominican Republic's GDP.