Tuesday, October 18, 2016

Spicejet signs a $12 billion-deal for above 100 aircraft

Mumbai: Indian budget carrier, SpiceJet has signed the dotted lines of the deal for more than 100 aircraft, valued around US $12 billion (over Rs 80,000 crore) by November, as per reports.

The no-frills carrier is reportedly in talks with global aircraft makers, Boeing and Airbus for quite some time now. Both the aircraft manufacturers are keen on being a part of this growth plan, stated Ajay Singh, Chairman, Spicejet, reports stated.

The low-cost carrier would purchase five aircraft from Boeing and lease three aircraft from Bombardier this financial year, so as to increase daily flights and enter into newer international destinations, as reported by Business Standard.

"We have significant financial resources to fund the purchase of the aircrafts as we have been profitable for the past few quarters and also have significant ability to use the (credit) limits from banks," said Singh as mentioned in the report.
18/10/16 India Infoline

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