Germany's Lufthansa says it is ordering dozens of new Boeing 787 and Airbus A350 long-haul jets, and will sell six of its Airbus A380 superjumbo aircraft in the coming years.

Germany's biggest airline said its supervisory board on Wednesday approved the purchase of 20 Boeing 787-9 planes and 20 Airbus A350-900s. The new planes will be delivered from late 2022 to 2027.

Though it didn't disclose the purchase price, Lufthansa said it negotiated a "significant" reduction on the $12 billion list price.

CEO Carsten Spohr said "by replacing four-engine planes with new models, we are laying a sustainable foundation for our future."

The company said it plans to sell six of its 14 A380 planes to Airbus, with the planes leaving Lufthansa in 2022 and 2023. The price wasn't disclosed.