SpiceJet strikes Rs 1.5 lakh cr deal with Boeing for 205 planes

In one of the biggest deals in the Indian aviation sector, SpiceJet will purchase up to 205 new aircraft from Boeing with the order valued at Rs 1,50,000 crore.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead GrowMyMoney IThe Winning Leap Tech Control

Budget 2017

Presented By:

DAYS hours minutes
Presented by :

Co-Presenting Sponsor :

Associate Sponsors :

Co-Presenting Sponsor :

Associate Sponsors :

Home » News » Business

Sponsored by :

Jan 15, 2017, 01.05 PM | Source: Moneycontrol.com

SpiceJet strikes Rs 1.5 lakh cr deal with Boeing for 205 planes

In one of the biggest deals in the Indian aviation sector, SpiceJet will purchase up to 205 new aircraft from Boeing with the order valued at Rs 1,50,000 crore.

Like this story, share it with millions of investors on M3

SpiceJet strikes Rs 1.5 lakh cr deal with Boeing for 205 planes

In one of the biggest deals in the Indian aviation sector, SpiceJet will purchase up to 205 new aircraft from Boeing with the order valued at Rs 1,50,000 crore.

Post Your Comments

Share Cancel

| 2 Comments
SpiceJet strikes Rs 1.5 lakh cr deal with Boeing for 205 planes
In one of the biggest deals in the Indian aviation sector, SpiceJet will purchase up to 205 new aircraft from Boeing with the order valued at Rs 1,50,000 crore.

With an earlier order for 55 planes and additional 100 new 737-8 MAX aircraft, the no-frills carrier now has firmed up an order for a total of 155 planes, besides purchase rights for 50 B737-8 MAX and wide body aircraft.

Announcing the deal, SpiceJet Chairman and Managing Director Ajay Singh said the total order of 205 aircraft is valued at Rs 1,50,000 crore (USD 22 billion).

"The delivery of the planes will start in 2018 and last through 2024", Singh told Moneycontrol, adding that there was enough flexibility on the frequency and quantum of each delivery.

Singh ruled out any equity issue or raising any loan to fund the purchase. The airline would rather rely on the tried and tested model of sale and leaseback and Exim Bank guaranteed the transaction, he added.

Currently, the budget carrier has 32 next generation B737s and 17 Bombardier Q400s.

The SpiceJet-Boeing 150-plane deal would rank as the second-largest order in the history of Indian aviation, just behind InterGlobe Aviation Ltd's 2011 order for 180 Airbus A320Neo planes.

— With PTI inputs

Buy, Hold, Sell ? Hear it first on M3
SpiceJet strikes Rs 1.5 lakh cr deal with Boeing for 205 planes

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login