Shares of Jet Airways dropped by 1.5% on Indian stock markets on Wednesday, a day after the airline announced its plan to buy 75 aircraft from Boeing. The companies have signed a deal on the 737 MAX narrowbody jets, Reuters reported.

While the planes are worth $8.8 billion (Rs 5.73 lakh crore) as per their list price, manufacturers usually offer airlines discounts.

Jet Airways announced its plan to buy the Boeing aircraft in a stock exchange filing on Tuesday. With these 75 new aircraft, it aims to meet the ever-growing passenger demand. In January, domestic passenger traffic rose by 17.9% year on year, marking the 41st straight month of double-digit growth, according to data from the International Air Transport Association.