The Yekaterinburg-based airline, which operates scheduled and charter domestic and international flights, is currently leasing two A320 aircraft, but the bulk of its fleet consists of outdated Tu-154 passenger planes.
"This deal is an important step in improving our aircraft fleet," General Director Kiril Skuratov said after the signing at the Le Bourget air show near Paris.
Airbus A320 is a medium-haul airliner with a passenger capacity of up to 120 people and an average flight range of about 3,000 miles.
Airbus executives expressed hope that Ural Airlines would become a reliable customer for the company and the new purchases would allow the Russian carrier to expand its international destinations.
Also at the air show, Russia's flagship airline Aeroflot signed a contract with Airbus to buy 22 A350 passenger planes and Russia's S7 Airlines (formerly Sibir Airlines) purchased 25 A320 planes.
