SpiceJet is likely to buy 100 planes worth $12 billion

July 13, 2016 11:34 am
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SpiceJet Chairman Ajay Singh’s presence at Farnborough Air Show in the U.K has fuelled the speculation of the imminent finalization of the potential blockbuster order worth about $12 billion for buying 100 planes. Just about two years ago, SpiceJet was fighting for its survival as creditors retreated and oil companies refused to refuel its airliners. 

Both Boeing and Airbus Group are locked in a battle to supply SpiceJet with as many as 100 planes, and both are offering aggressive discounts in negotiations that have intensified in the past few months, according to reports in the UK media. SpieceJet’s main competitor IndiGo had also recently placed placed orders for 430 Airbus A320 neo planes, with a target to build a 1,000-jet fleet eventually. Budget carrier GoAir on Tuesday has signed an initial pact with Airbus for buying 72 A320neo aircraft.

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