Jet Airways has ordered seventy five more 737 MAX 8 planes from Boeing, valued at $8.8 billion at current list prices, as it looks to expand its network to meet surging demand, the two companies said in a joint statement.
"The MAX will allow us to offer guests a superior and well differentiated experience using a modern, reliable and fuel efficient fleet. The order also emphasizes Jet Airways' commitment to the growth and potential of the Indian aviation market," said Jet Airways chairman Naresh Goyal.
India is the fastest growing aviation market in the world, and according to industry data, domestic air traffic in India has grown about 20 percent in each of the past four years, despite a lack of infrastructure and air traffic congestion at some of its busiest airports such as Delhi and Mumbai.
This is the third deal Jet Airways has entered into for Boeing’s 737 MAX narrowbody jets over the last twelve months, taking the total to 225 aircraft. The Indian airline signed firm orders for 75 planes each in last October and April.
The MAX series of jets from Boeing offers double digit fuel efficiency and the MAX 8 variant can seat up to 210 passengers.
The latest agreement comes as Indian airlines rush to expand fleets to meet ever-increasing demand for domestic as well as international flights, making it one of the most targeted sales markets for Boeing and European rival Airbus SE.
The 737 MAX is the fastest-selling airplane in Boeing's history, accumulating more than 4,600 orders from over 100 customers worldwide.
Boeing said in July last year it expected Indian airlines to order up to 2,100 aircraft worth $290 billion over the next 20 years, calling it the highest-ever forecast for Asia’s third-largest economy.
(With inputs from Reuters)
Disclosure: Boeing is one of the launch partners of CNBC-TV18.com.
First Published: IST