Jet Airways to buy 75 Boeing Max planes for $8 bn - Hindustan Times
close_game
close_game

Jet Airways to buy 75 Boeing Max planes for $8 bn

Hindustan Times | ByHT Correspondent, New Delhi
Nov 09, 2015 11:09 PM IST

Naresh Goyal-led Jet Airways announced an order for 75 Boeing 737 Max aircraft at the Dubai Airshow on Monday, the airline’s largest-ever fleet order, in a deal valued at over $8 billion (over Rs 53,000 crore) at list price.

Naresh Goyal-led Jet Airways announced an order for 75 Boeing 737 Max aircraft at the Dubai Airshow on Monday, the airline’s largest-ever fleet order, in a deal valued at over $8 billion (over Rs 53,000 crore) at list price.

File photo of a Jet Airways plane.(HT File photo)
File photo of a Jet Airways plane.(HT File photo)

The order includes options and purchase rights for an additional 50 aircraft. “The new aircraft will support Jet Airways’ replacement strategy and ensure it maintains a modern, environmentally friendly fleet,” Jet Airways, the country’s second-largest airline by market share, said in a statement. It currently has a fleet of 115 aircraft.

Hindustan Times - your fastest source for breaking news! Read now.

The deliveries from the latest order will begin in 2018. “The transaction will be completely financed and managed through a sale and leaseback arrangement when Jet Airways takes delivery of the aircraft,” the airline said.

“This order is an endorsement of our confidence in the long-term prospects of the Indian aviation sector, which reflects the positive forecast for the country’s economy, and offers tremendous potential for growth and development,” Jet Airways chairman Naresh Goyal said.

Rival and market leader IndiGo has on order over 400 A320 Neos, while the Wadia group-promoted GoAir has on order 72 Neos. Budget carrier SpiceJet has on order 42 Boeing B737 Max planes and Air India plans to lease around 15 planes in the next two years.

“These new-generation aircraft are highly fuel efficient and will help drive our operational efficiency,” said Cramer Ball, chief executive officer, Jet Airways.

Unlock a world of Benefits with HT! From insightful newsletters to real-time news alerts and a personalized news feed – it's all here, just a click away!- Login Now!
Stay informed on Business News along with Gold Rates Today, India News and other related updates on Hindustan Times Website and APPs
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Thursday, March 28, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On