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Indian budget carrier SpiceJet seals $12 billion deal as it eyes expansion

In the coming few years, the budget carrier is expected to hire nearly 600 pilots taking the total to 1,000. Photograph: (AFP)

ANI New Delhi, Delhi, India Oct 15, 2016, 11.15 AM (IST)

Indian budget passenger carrier SpiceJet has sealed $12 billion (over Rs 80,000 crore) deal for 100 aircraft,  news agency ANI reported today. 

 

SpiceJet's chairman and managing director Ajay Singh, while talking to reporters at the Young FICCI Ladies Organisation (YLFO), said: "We are going to finalise the deal in a month or so."

 

In a bid to increase daily flights and enter into newer international destinations, SpiceJet will also buy five aircraft from Boeing and lease three aircraft from Bombardier this financial year. 

 

"We have significant financial resources to fund the purchase of the aircraft as we have been profitable for the past few quarters and also have significant ability to use the (credit) limits from banks," Singh was quoted as saying. 

 

According to the news agency, SpiceJet is planning to tap two to three international destinations in the four to five-hour haul from the current presence in six countries including Dubai, Bangkok, Colombo, and Maldives.

 

In the coming few years, the budget carrier is expected to hire nearly 600 pilots taking the total to 1,000 as it continues to grow its fleet that currently stands at 43. 

 

(WION with inputs from ANI) 
 

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