SpiceJet climbs 4% as carrier signs $22 billion deal for 205 Boeing planes
The 737 Max is the fourth generation of the 737 family with the primary change being the use of larger and more efficient CFM International Leap-1B engines.
By ETMarkets.com | Updated:
NEW DELHI: Shares of SpiceJet surged over 4 per cent in Friday’s trade amid reports that the company has sealed an whopping $22 billion order for up to 205 Boeing 737 Max planes.
The 737 Max is the fourth generation of the 737 family with the primary change being the use of larger and more efficient CFM International Leap-1B engines, split-tip winglets and some modifications to the airframe. As of December 31, 2016, Boeing has more than 3,500 orders for the 737 Max series, said a report in the Economic Times.
Following the announcement, the stock rose 4.07 per cent to hit a high of Rs 66.50 on BSE.
India is the world's fastest growing aviation market and among the most attractive for plane makers seeking a new wave of growth. The number of Indian passengers is increasing by more than 20 per cent annually, thanks to low prices and rising disposable income.
SpiceJet had previously ordered 42 of these planes while Jet Airways ordered 75, the ET reported. An agreement with the Gurgaon-based low-fare carrier, which has a fleet of 40 planes, will provide a boost to Boeing in India as its rival Airbus has orders for about 430 aircraft from IndiGo and 144 from GoAir.
The 737 Max is the fourth generation of the 737 family with the primary change being the use of larger and more efficient CFM International Leap-1B engines, split-tip winglets and some modifications to the airframe. As of December 31, 2016, Boeing has more than 3,500 orders for the 737 Max series, said a report in the Economic Times.
Following the announcement, the stock rose 4.07 per cent to hit a high of Rs 66.50 on BSE.
India is the world's fastest growing aviation market and among the most attractive for plane makers seeking a new wave of growth. The number of Indian passengers is increasing by more than 20 per cent annually, thanks to low prices and rising disposable income.
SpiceJet had previously ordered 42 of these planes while Jet Airways ordered 75, the ET reported. An agreement with the Gurgaon-based low-fare carrier, which has a fleet of 40 planes, will provide a boost to Boeing in India as its rival Airbus has orders for about 430 aircraft from IndiGo and 144 from GoAir.
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