The decision by the Naresh Goyal-promoted carrier to buy the new aircraft was announced at the biennial Dubai Airshow today, according to a Boeing release. Jet Airways currently has a fleet of 115 aircraft.
The deal price was not disclosed in the release.
Jet Airways will be the first airline in India to take delivery of the 737 MAX planes, the carrier said, adding this also marks the largest order in Jet Airways' history and supports the airline's aircraft replacement strategy with modern planes.
"Incorporating the latest design and technology features, the highly efficient 737 MAX will allow us to drive our operational efficiency and reaffirms our commitment to providing a best-in-class full service travel experience to our guests," Jet Airways Chairman Naresh Goyal said.
The new single-aisle airplane will deliver 20 per cent lower fuel use than the first NG 737s and the lowest operating costs in its class.
This order is an endorsement of Jet Airways' confidence in the long-term prospects of the Indian aviation sector, which reflects the positive forecast for the country's economy and offers tremendous potential for growth and development, Goyal added.
According to Boeing forecast released in August this year, India will require 1,740 planes over the next 20 years, anticipating that more people will travel by air over the course of time.
The price tag for these planes is estimated at $240 billion.
The 737 MAX incorporates the latest technology CFM international LEAP-1B engines, advanced technology winglets and other improvements to deliver the highest efficiency, reliability and passenger comfort in the single-aisle market, the Boeing release said.