Jet Airways, Vistara on buying spree at Farnborough

Even as the Indian civil aviation industry blooms with the prospect of emerging as one of the largest markets in the world, the country is certainly evolving as a promising customer base for the world's leading aircraft.

At the ongoing Farnborough Airshow 2018 in the UK, Jet Airways confirmed that it has placed an order with Boeing for additional 75 737 MAX 8 aircraft valued at $8.8 billion at current list prices. This order helps the carrier expand its network to meet surging demand.

"Our latest order for 75 additional Boeing 737 MAX aircraft reflects our long standing association with Boeing, and reposes our faith in the aircraft they manufacture," Jet Airways Chairman Naresh Goyal said.

In June, the carrier took delivery of its first MAX, a new and improved 737 that delivers double-digit improvement in fuel efficiency and improved passenger comfort.

The 737 MAX has already accumulating more than 4,600 orders from over 100 customers worldwide, while Jet Airways operates a fleet of nearly 120 aircraft, serving more than 60 destinations in 15 countries across Asia, Europe and North America.

Buys from Airbus

Similarly, Vistara has also signed a Letter of Intent for 13 A320neo aircraft with Airbus to add to its existing portfolio of 21 Airbus planes.

The full-service airline has also committed to an additional 37 A320neo Family aircraft from lessors. The combined agreements would add 50 A320neos to Vistara’s fleet, helping the airline fly regional international routes.

With more than 6,100 orders received from over 100 customers, the A320neo Family has captured some 60% share of the global airline market.

According to industry data, domestic air traffic in India has grown about 20% in each of the past four years.