Jet Airways to acquire 75 fuel-efficient Boeing planes

Naresh Goyal-promoted private carrier Jet Airways will acquire 75 fuel-efficient 737 MAX 8 aircraft from US plane maker Boeing.

The decision to buy new single-aisle aircraft was confirmed at the biennial Dubai Airshow today, according to a Boeing release. 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, it said, adding this also marks the largest order in Jet Airways' history and supports the airline's aircraft replacement strategy with modern planes.

The order includes conversions of 25 Next-Generation (NG) 737s to 737 MAX 8s, as well as options and purchase rights for an additional 50 aircraft, it said.

"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, he added.

"Boeing is proud that Jet Airways will be the first airline in India to take delivery of the 737 MAX. The 737 MAX will bring new standards for fuel efficiency and economics, and a premium passenger experience to Jet Airways," Boeing Commercial Airplanes President and CEO Ray Conner said.

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 release said.