India’s carrier to buy 75 jets in multi-billion dollar order
MUMBAI - Agence France-Presse
The country’s second-largest airline made the announcement to the Mumbai stock exchange late on April 3.
The company did not specify which model of the narrow-body jet it planned to purchase, or whether it had placed a firm order rather than a memorandum of understanding.
The deal could be worth anywhere between $7.2 billion and $9.7 billion, depending on the type of jet acquired and based on list prices.
Airlines often negotiate discounts on major orders.
India is witnessing a boom in air travel as its growing middle class takes to the skies.
Airlines are rapidly expanding their fleets to capture a slice of this market.
There has been a six-fold increase in passenger numbers over the past decade as Indians take advantage of better connectivity and cheaper fares thanks to a host of low-cost airlines.
The Centre for Aviation based in Australia predicts India will overtake Britain as the world’s third-largest market by 2025 and will have 478 million fliers by 2036.