GET Stock QuotesNews18 APP
News18 English
cricketnext
»
1-min read

SpiceJet in Provisional Deal For 40 Boeing 737 MAX 10 Jets

Indian low-cost carrier SpiceJet signed a provisional deal on Monday to buy 40 of Boeing's newly launched 737 MAX 10 jets.

Reuters

Updated:June 19, 2017, 6:52 PM IST
facebookTwittergoogleskypewhatsapp
SpiceJet in Provisional Deal For 40 Boeing 737 MAX 10 Jets
In this file photo, a SpiceJet Boeing 737-800 aircraft taxis on the tarmac after landing at Chhatrapati Shivaji international airport in Mumbai. (Photo: Reuters/Danish Siddiqui)
New Delhi: Indian low-cost carrier SpiceJet signed a provisional deal on Monday to buy 40 of Boeing's newly launched 737 MAX 10 jets, becoming an inaugural customer of an aircraft designed to blunt strong sales of rival planemaker Airbus' A321neo.

The agreement, valued at $4.7 billion at current list prices, includes a new order for 20 planes and a conversion of 20 of SpiceJet's 737 MAX 8 aircraft from an existing order, the companies said at the Paris Airshow.

SpiceJet chairman Ajay Singh said the 190-230-seat aircraft was right for India's growth, the fastest in global aviation.

"As happens in many countries growing at the pace at which India is growing, many airports are running out of capacity and for those airports this is a perfect aircraft," he told a news conference.

Asia, especially India, is a key market for planemakers, with analysts expecting Indian passenger numbers to more than triple over the next 20 years as millions more people become wealthy enough to fly for the first time.

SpiceJet, which was briefly forced to ground its fleet in late 2014 when it ran out of cash, is the fourth-largest Indian airline behind InterGlobe Aviation's IndiGo, Jet Airways and state-run Air India.

It operates a fleet of 35 Boeing 737s and 20 Bombardier Q400s, agreed in January to acquire 100 new MAX 737 aircraft as part of its expansion plans in the world's fastest growing aviation market.

The budget carrier plans to grow its operational fleet to 200 airplanes by the end of the decade and expand regionally with the new 737 MAX family of airplanes. SpiceJet will take delivery of its first 737 MAX in 2018.
Read full article
Next Story
facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Reliance 909.90 -4.60 -0.50
Dewan Housing 594.35 -8.15 -1.35
GNFC 472.60 +28.85 +6.50
Axis Bank 460.30 -4.20 -0.90
Bharti Airtel 473.75 +11.80 +2.55
Company Price Change %Gain
GNFC 472.30 +28.60 +6.45
Reliance 910.35 -3.40 -0.37
Axis Bank 460.35 -4.00 -0.86
Dewan Housing 595.40 -6.40 -1.06
Aditya Birla 183.70 +3.35 +1.86
Top Gainers
Company Price Change %Gain
Bharti Airtel 473.75 +11.80 +2.55
UPL 793.70 +4.35 +0.55
M&M 1,375.75 +5.20 +0.38
Infosys 926.95 +2.60 +0.28
Lupin 1,051.20 +2.00 +0.19
Company Price Change %Gain
Bharti Airtel 471.05 +9.50 +2.06
Lupin 1,052.50 +3.60 +0.34
Infosys 927.10 +2.65 +0.29
M&M 1,374.80 +3.50 +0.26
BHEL 84.80 +0.10 +0.12
Top Losers
Company Price Change %Gain
ICICI Bank 257.85 -5.30 -2.01
NTPC 175.05 -3.00 -1.68
Kotak Mahindra 1,077.75 -18.15 -1.66
Coal India 285.80 -4.20 -1.45
Tata Motors 426.95 -6.25 -1.44
Company Price Change %Gain
ICICI Bank 257.85 -5.20 -1.98
Kotak Mahindra 1,079.35 -18.05 -1.64
NTPC 175.15 -2.85 -1.60
Tata Motors 427.25 -6.30 -1.45
Coal India 286.20 -4.00 -1.38

Live TV