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Spicejet orders 205 Boeing aircraft in $22 billion deal

Low cost carrier SpiceJet has placed an order for 205 aircraft with Boeing, in a $22 billion deal (nearly Rs 1,46,360 crore), the biggest order deal in the airline’s history.

The order is inclusive of an existing order for 55 aircraft and 100 new ones.

SpiceJet will be getting 100 firm B737-8 max, widebody aircraft from Boeing for its fleet. The airline’s order includes purchase rights for 50 B737-8 Max Widebody aircraft, an alert from Bloomberg said.

Boeing 737 has been the backbone of our fleet, with its high reliability, low operation economies & comfort: Ajay Singh #SpiceJetBigOrder

— SpiceJet (@flyspicejet)

“Our turnaround story has been one which has very few parallels in the world today and we are proud of it. SpiceJet has achieved seven consecutive quarters of profit, highest on-time performance and lowest cancellation rates; a record load factor of over 90% every month for 20 months in a row – a feat that has no parallel in aviation history,” said Ajay Singh, Chairman and Managing Director, SpiceJet.

The planes will be delivered to SpiceJet between 2018 and 2024, Singh said. They will consider all the financing options for the Boeing deal, Singh added.

The new aircraft will be used to expand the range of international destinations it flies to, Singh said while speaking about the deal in New Delhi.

SpiceJet is in a very good position to expand its network & ops which includes both domestic & intl routes: CMD Ajay Singh #SpiceJetBigOrder

— SpiceJet (@flyspicejet)

SpiceJet currently has 26 Boeing aircraft in its fleet, including 4 737-900ER and 14 737-800s. It also has 14 Bombardier Q400s.

With the next generation of B737 & B737 MAX we are sure that we can be competitive & grow profitably: CMD Ajay Singh#SpiceJetBigOrder

— SpiceJet (@flyspicejet)

B737 MAX has latest tech to deliver highest efficiency, reliability & passenger comfort in single-aisle mkt: Ajay Singh #SpiceJetBigOrder

— SpiceJet (@flyspicejet)

After the announcement of the nearly Rs 1.5 lakh crore deal, SpiceJet’s shares were trading at Rs 66.10, up Rs 2.20 or 3.44% apiece.