<p>In one of the biggest deals in the Indian aviation sector, SpiceJet will purchase up to 205 new aircraft from Boeing with the order valued at Rs 1,50,000 crore.<br /><br /></p>.<p>With the earlier order for 55 planes and additional 100 new 737-8 MAX aircraft, the no-frills carrier now has firmed up order for a total of 155 planes, besides purchase rights for 50 B737-8 MAX and wide body aircraft.<br /><br />Announcing the deal here today, SpiceJet Chairman and Managing Director Ajay Singh said the total order of 205 aircraft is valued at Rs 1,50,000 crore (USD 22 billion).<br /><br />"This is one of the largest deals in Indian aviation and the largest for SpiceJet," Singh said.<br />Currently, the budget carrier has 32 next generation B737s and 17 Bombardier Q400s.<br /><br />"We are honoured to build upon more than a decade of partnership with SpiceJet with their commitment of up to 205 airplanes," Boeing Company Vice Chairman Ray Conner said.<br />According to Singh, SpiceJet would explore different options for financing the deal.<br /><br />Singh said the induction of the new aircraft, which burn 20 per cent less fuel, would help SpiceJet reduce costs and enhance its ability to compete.<br /><br />"This is a composite transaction for purchase of up to 205 aircraft valued at USD 22 billion," Singh said, adding that the focus is on growing the airline in a responsible and profitable manner.<br /><br />After being on the verge of going belly up two years ago, the airline has been in the black for the past seven straight quarters.<br /><br />When asked about financing of the deal and its impact on debt to equity ratio, Singh said there would be no "equity dilution" and the balance sheet would be healthy.<br /><br />In the 2016 July-September quarter, the airline had posted its highest-ever quarterly profit of Rs 59 crore. In the year-ago period, the same stood at Rs 29 crore.<br /></p>
<p>In one of the biggest deals in the Indian aviation sector, SpiceJet will purchase up to 205 new aircraft from Boeing with the order valued at Rs 1,50,000 crore.<br /><br /></p>.<p>With the earlier order for 55 planes and additional 100 new 737-8 MAX aircraft, the no-frills carrier now has firmed up order for a total of 155 planes, besides purchase rights for 50 B737-8 MAX and wide body aircraft.<br /><br />Announcing the deal here today, SpiceJet Chairman and Managing Director Ajay Singh said the total order of 205 aircraft is valued at Rs 1,50,000 crore (USD 22 billion).<br /><br />"This is one of the largest deals in Indian aviation and the largest for SpiceJet," Singh said.<br />Currently, the budget carrier has 32 next generation B737s and 17 Bombardier Q400s.<br /><br />"We are honoured to build upon more than a decade of partnership with SpiceJet with their commitment of up to 205 airplanes," Boeing Company Vice Chairman Ray Conner said.<br />According to Singh, SpiceJet would explore different options for financing the deal.<br /><br />Singh said the induction of the new aircraft, which burn 20 per cent less fuel, would help SpiceJet reduce costs and enhance its ability to compete.<br /><br />"This is a composite transaction for purchase of up to 205 aircraft valued at USD 22 billion," Singh said, adding that the focus is on growing the airline in a responsible and profitable manner.<br /><br />After being on the verge of going belly up two years ago, the airline has been in the black for the past seven straight quarters.<br /><br />When asked about financing of the deal and its impact on debt to equity ratio, Singh said there would be no "equity dilution" and the balance sheet would be healthy.<br /><br />In the 2016 July-September quarter, the airline had posted its highest-ever quarterly profit of Rs 59 crore. In the year-ago period, the same stood at Rs 29 crore.<br /></p>