SpiceJet in Talks With Boeing, Airbus for USD11 Billion Jet Deal

Budget airline SpiceJet Ltd is in talks with Boeing Co and Airbus Group to acquire about 100 new narrow-body jets.

Published: 29th July 2015 12:54 PM  |   Last Updated: 29th July 2015 12:54 PM   |  A+A-

plane spice reuters

SpiceJet's total income from operations declined over 28 per cent to Rs 1,040.13 crore in July-September of the current fiscal. | File Reuters

NEW DELHI: Budget airline SpiceJet Ltd <SPJT.BO> is in talks with Boeing Co <BA.N> and Airbus Group <AIR.PA> to acquire about 100 new narrow-body jets, its chief financial officer said on Wednesday, in a deal worth about $11 billion at list prices.

SpiceJet wants to buy more Airbus A320neo and Boeing 737 Max aircraft, Kiran Koteshwar told Reuters. He said the company plans to place an order by the end of this financial year and would look to raise fresh equity or debt to pay for the planes once it had decided how many to buy.

"We have to place an order so we have a long-term business plan in place. The focus is now on sizeable growth," he said.

SpiceJet's plans for expansion come after India's second-largest low-cost carrier almost collapsed late last year, before it was bailed out by new chairman Ajay Singh.

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