Naresh Goyal promoted Jet Airways confirms order for 75 Boeing aircraft

Jet Airways said on Wednesday it had agreed to buy 75 Boeing 737 Max aircraft, and that it could purchase another 75 to help it expand in a booming Indian market.

Jet said in a statement that deliveries of the single aisle jets are expected to start in mid-2018. and a decision on adding an equal number of narrow-body aircraft “will be made over the coming few months”.

An order for 75 737 MAX 10 jets would be worth as much as $9.3 billion based on list prices, although airlines typically get discounts for large orders.

Reuters reported in June that Jet, which is part owned by Abu Dhabi’s Etihad Airways, was in talks to buy either Boeing’s 737 MAX planes or aircraft from Airbus SE’s A320neo family.

Airlines in India have hundreds of aircraft on order as they look to tap into a market growing by nearly 20 percent a year thanks to rising incomes and low cost fares.

Jet Airways has the second largest market share in India behind InterGlobe Aviation’s IndiGo.