Jet Airways confirmed an order for the purchase of 75 Boeing 737 Max aircraft at the Dubai Airshow on Monday.
The order includes options and purchase rights for an additional 50 aircraft. This is the airline’s largest ever fleet order valued at $8.7 billion at list price.
The deliveries will start from 2018 and transaction will be completely financed and managed through a sale and leaseback arrangement, Jet Airways said.
The new aircraft will support the airline’s replacement strategy and ensure it maintains a modern, environmentally friendly fleet, the airline said. Currently, Jet Airways has a fleet of 115 aircraft.
“This order is an endorsement of our confidence in the long-term prospects of the Indian aviation sector, which reflects the positive forecast for the country’s economy, and offers tremendous potential for growth and development,” Naresh Goyal, Chairman, Jet Airways, said in a statement.
Cramer Ball, Chief Executive Officer, Jet Airways said, “This order is a reaffirmation of our commitment to continue providing a best-in-class full service travel experience to our guests. Just as importantly, these new generation aircraft are highly fuel efficient and will help drive our operational efficiency.”
Boeing Commercial Airplanes President and CEO Ray Conner said that Jet Airways would be the first airline in India to take delivery of the 737 MAX. “The 737 MAX will bring new standards for fuel efficiency and economics, and a premium passenger experience to Jet Airways,” Mr. Conner said.