Boeing has won a massive deal to sell its new 737 jet into the rapidly growing Indian market.
The U.S. plane maker is going to supply another 100 of its 737 Max 8 jets to Indian budget airline SpiceJet, an order Boeing says is worth about $11 billion at list prices.
It builds on an earlier SpiceJet order for 55 of the 737 Max planes, and the airline will have the option of buying 50 more in the future. Altogether, the 205 jets would be worth $22 billion at list prices.
The deal boosts Boeing’s drive to expand its business in India, which is one of the world’s largest and fastest-growing aviation markets. Its top rival, Airbus, supplies aircraft to several Indian airlines.
Boeing’s fourth-generation single-aisle Max 8 has two new engines and a new tail section and winglets — designed to cut fuel consumption by 14%.
The Max 8 is the first of four 737 Max models Boeing is designing.
Boeing has thousands of orders for the 737 Max, including from China’s fast-growing airlines.