Aircraft manufacturing company Boeing is in the final stages of talks with Indian budget carrier SpiceJet for a 92-aircraft contract worth $10.1 billion (approximately Rs 68,695.15 crore), Bloomberg reported on Friday. Boeing has been in lengthy negotiations with SpiceJet for the contract, which its rival, Airbus Group, is also trying to bag.
The deal includes at least 50 new units of the Boeing 737 Max as well as renegotiated terms for 42 units of the model that SpiceJet had ordered in 2014, the report said. SpiceJet will likely pay less than the listed price of the aircraft because it is ordering them in bulk. The company currently has 49 aircraft in its fleet.
A spokesperson for SpiceJet said that it was hoping to close the deal by the end of this financial year. The deal will help SpiceJet compete better with other low-cost Indian carriers. It will also be a boost for Boeing, which lags behind Airbus in the narrow-body jet fleet market in India.