India’s Jet Airways orders 75 Boeing 737 MAX aircraft

In a filing to the stock exchange, leading Indian airliner Jet Airways has revealed that it has ordered 75 Boeing 737 MAX airplanes in a deal that could be worth as much as $9.7bn, based on the list prices of the aircraft.

It is expected this figure will be lower due to discounts being customary in bulk orders for aircraft but will still be a significant expense for Jet Airways.

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The order remains true to a statement made by CEO Vinay Dube at a briefing in Chennai in October of last year where he revealed that the firm would be placing an order for up to 100 new narrow-body aircraft by the end of March.

The announcement comes as the company, alongside others, continues to see a rise in passenger demand within India. According to information from the International Air Transport Association, India’s domestic air traffic rose 17.9% in January compared to a year earlier.

Jet Airways joins a number of leading Indian airliners that have agreed to purchase a new range of aircraft in the aim of meeting this demand. SpiceJet previously ordered over 200 narrow body aircraft from Boeing, whilst IndiGo has become the largest customer for the Airbus A320.

The additional 75 Boeing 737 MAX models will join Jet Airways’ existing fleet that includes a range of models from 737 family, alongside Airbus A330s and ATR 72s.

Jet Airways shares rose as much as 3.2% following the announcement.