Indian SpiceJet May Deal $11 billion Worth Boeing Airbus

Indian airline SpiceJet Ltd is in discussion with Airbus Group and Boeing Co to obtain 100 latest narrow body jets at a deal of worth $11 billion on Wednesday. Last year nearly after disintegrate, SpiceJet desired to buy more Boeing 737 Max aircraft and Airbus A320neo.

SpiceJet 11 Billion Boeing deal

Chief Financial Officer, Kiran Koteshwar said company is looking forward to raise fresh valuation or tally to pay for planes once it finalize the decision on how many to buy. Company is planning to make a biggest order ever expected by the end of this fiscal year.

Koteshwar stated, “We have to place an order so we have a long-term business plan in place. The focus is now on sizable growth.”

Yet there was no confirmation about the firm order through the talks. The extension plans of SpiceJet was put forward after the subsidence of India’s second largest low cost carrier. This took place earlier when ┬ánew chairman Ajay Singh being bailed. SpiceJet airlines consists of 20 Boeing narrow-body jets. Its market share has been reduced to 12% in this June from 20% of last year’s.

Indian airlines are enlarging their columns to win bigger segment in one of the world’s fastest growing market for air travel. Koteshwar mentioned latest orders might largely be on leaseback or as a sale model.