HYDERABAD, India, March 12, 2014 /PRNewswire/ -- Boeing [NYSE: BA] and SpiceJet announced today at India Aviation 2014 an order for 42 737 MAX 8s. The order, previously listed as unidentified on the Boeing Orders & Deliveries website, is valued at $4.4 billion at list prices.
"SpiceJet greatly values the ties we have built over the years with Boeing. The Boeing Next-Generation 737 aircraft, the mainstay of the fleet ever since SpiceJet started operations, have vindicated our choice by their endurance, reliability and cost effectiveness," said S.L. Narayanan, Group CFO for The Sun Group. "The induction of Boeing 737 MAX will further modernize our fleet, improve customer experience, and ensure that we operate the most efficient fleet well into the future."
The 737 MAX brings the most advanced engine technologies to the world's best-selling airplane, building on the strengths of today's Next-Generation 737. The 737 MAX incorporates the latest-technology CFM International LEAP-1B engines to deliver the highest efficiency, reliability and passenger comfort in the single-aisle market.
"The order is a tremendous endorsement of the 737 MAX's unsurpassed fuel efficiency," said Dinesh Keskar, senior vice president of Asia Pacific and India Sales, Boeing Commercial Airplanes. "The capabilities of the 737 MAX supports SpiceJet's mission to become India's preferred low-cost airline. We are very proud to be partners with SpiceJet and a part of the airline's continued success with the addition of the 737 MAX."Development of the 737 MAX is on schedule with firm configuration of the airplane achieved in July 2013. First flight is scheduled in 2016 with deliveries to customers beginning in 2017. Already a market success, the 737 MAX has accumulated more than 1,800 orders to date and will have 8 percent lower per-seat operating costs than the future competition. With today's announcement, SpiceJet has ordered 90 airplanes directly from Boeing, which includes the 737-800, 737-900ER and now the 737 MAX. To date, SpiceJet has taken delivery of 31 of the airplanes.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV