Boeing [NYSE:BA] and Jet Airways confirmed that the Indian carrier placed an order for an additional 75 737 MAX 8 airplanes during a signing ceremony at the 2018 Farnborough International Airshow. The order, valued at $8.8 billion at current list prices, was previously posted as unidentified on Boeing's Orders and Deliveries website.
This order for an additional 75 MAX airplanes helps the Indian carrier expand its network to meet surging demand in the fastest-growing aviation market in the world.
"Our latest order for 75 additional Boeing 737 MAX aircraft reflects our long standing association with Boeing and reposes our faith in the aircraft they manufacture," said Naresh Goyal, Chairman of Jet Airways. "The MAX will allow us to offer guests a superior and well differentiated experience using a modern, reliable and fuel efficient fleet. The order also emphasizes Jet Airways' commitment to the growth and potential of the Indian aviation market."
In June, the Mumbai-based carrier took delivery of its first MAX, a new and improved 737 that delivers a double-digit improvement in fuel efficiency and improved passenger comfort. These new airplanes arrive into an Indian aviation market that continues to grow at significant rates. According to industry data, domestic air traffic in India has grown about 20 percent in each of the past four years.
"We are honored to extend our deep partnership with Jet Airways as they modernize their fleet with the most capable single-aisle airplanes," said Boeing Commercial Airplanes President and CEO Kevin McAllister. "This is a testament to the market-leading economics and reliability of the 737 MAX. I am confident that these new airplanes will support Jet Airways' domestic and international expansion."
Jet Airways is India's second-largest airline with a fleet of nearly 120 airplanes serving more than 60 destinations in 15 countries across Asia, Europe and North America.
The 737 MAX family achieves superior fuel efficiency and range through the latest CFM International LEAP-1B engines, Advanced Technology winglets, and other improvements. The jet also features the signature Boeing Sky Interior and large flight deck displays.
The 737 MAX is the fastest-selling airplane in Boeing history, accumulating more than 4,600 orders from over 100 customers worldwide. For more information and feature content, visit www.boeing.com/commercial/737max.