India's SpiceJet places US$4.4 billion order for 42 Boeing 737s
Published on Mar 12, 2014 3:59 PM
HYDERABAD (REUTERS) - Indian budget airline SpiceJet Ltd has signed a deal with Boeing Co to buy 42 737 MAX jets in a deal worth US$4.4 billion (S$5.57 billion) at list prices, the company said on Wednesday, sending is shares up more than 7 per cent.
The order, which Reuters first reported in January, could help the loss-making Indian carrier, India's fourth-biggest airline by market share, as it seeks new investors.
Delivery of the new jets will begin in 2018, S.L. Narayanan, chief financial officer at SpiceJet's parent, Sun Group, told reporters at an Indian air show in southern city of Hyderabad.
Payments for the order will be closer to the delivery date, he said, declining to give further details on funding plans.
To continue reading, log in if you are a subscriber
If you are not a subscriber, you can get instant, unlimited access here