Jet Airways to buy 75 Boeing planes worth $8.8 bn

New Delhi: Jet Airways will buy 75 more narrow body Boeing aircraft worth USD 8.8 billion, taking the total order to 150 as it looks to expand in the domestic aviation market.

The full service carrier today said it has signed a new order for 75 additional Boeing 737 MAX aircraft.

The current listing price of a Boeing 737 MAX 8 aircraft is USD 117.1 million, according to the Boeing website. Based on this rate, the cost of 75 such planes would be around USD 8.8 billion.

According to the airline, Boeing 737 aircraft type is the backbone of its fleet.

The 150 Boeing 737 MAX aircraft would help replace existing fleet and fuel “airline’s expansion strategy to support its network and growth aspirations in the world’s fastest growing aviation market”, it said in a statement.

Jet Airways CEO Vinay Dube said the new order for the additional 75 Boeing 737 MAX aircraft would allow the airline to deliver a differentiated and world class customer experience to guests.

“These additional Boeing 737 MAX airplanes will help Jet Airways continue to be an industry leader by combining a superior passenger experience with reliable and efficient operations,” Senior Vice President (Asia Pacific & India Sales) at Boeing Commercial Airplanes Dinesh Keskar said.

The airline, which flies to 65 Indian and overseas destinations, operates a fleet of 120 aircraft. These comprise Boeing 777-300 ERs, Airbus A330-200/300, Next Generation Boeing 737s and ATR 72-500/600s.

Most local carriers have ambitious plans to expand their fleet amid increasing demand in the aviation sector.

In February, the domestic aviation sector grew more than 24 per cent, month-on-month, as per official data.

Shares of Jet Airways declined 1.55 per cent to close at Rs 604.35 on BSE.