In what is touted as one of the biggest deals in the Indian aviation sector, India's second-biggest budget carrier SpiceJet will purchase up to 205 new aircraft from Boeing with the order valued at Rs 1,50,000 crore.
With the earlier order for 55 planes and additional 100 new 737-8 MAX aircraft, the no-frills carrier now has firmed up order for a total of 155 planes, besides purchase rights for 50 B737-8 MAX and wide body aircraft.
Notedly, India is the world's fastest growing aviation market and among the most attractive for planemakers seeking a new wave of growth. Indian passenger numbers are increasing by more than 20 percent annually thanks to low prices and rising disposable incomes.
Announcing the deal here today, 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).
"This is one of the largest deals in Indian aviation and the largest for SpiceJet," Singh said.
Currently, the budget carrier has 32 next generation B737s and 17 Bombardier Q400s.
"We are honoured to build upon more than a decade of partnership with SpiceJet with their commitment of up to 205 airplanes," Boeing Company Vice Chairman Ray Conner said.