SpiceJet in talks to buy 100 Boeing airbus for $11 bn

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New Delhi | Updated: July 30, 2015 1:56:08 PM

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

spicejetSpicejet 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. (PTI)

Budget airline SpiceJet Ltd is in talks with Boeing Co and Airbus Group to acquire about 100 new narrow-body jets, its chief financial officer Kiran Koteshwar 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, 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.

Spicejet shares were trading 3.20 per cent up on BSE at 12.52 pm.

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