SpiceJet signs MoU with Boeing, stock hits 52-week high
DSIJ Intelligence / 20 Jun 2017
SpiceJet has signed a memorandum of understanding (MoU) with the US-based aircraft company Boeing
SpiceJet has signed a memorandum of understanding (MoU) with the US-based aircraft company Boeing for the purchase of 20 new 737 MAX 10 planes and conversion of 20 of the 737 MAX 8 planes to 737 MAX 10s.
SpiceJet in its filing has stated that “The order, valued at Rs 474 crore approx. at the current list prices, is split evenly between 20 new orders for the 737 MAX 10 and conversions of 20 of the low-cost carrier’s 737 MAX 8 planes of its current order to 737 MAX 10s.”
Boeing has launched 737 MAX 10 as an advanced version of 737 MAX 9 with increased seating capacity of 230 passengers in a single class configuration.
The newer versions of the 737 will enable SpiceJet to maximise its sales on dense routes with lower unit seat cost. At the same time, the company can expand its network while maintaining low cost offerings to customers.
After the announcement of this MoU, the SpiceJet stock gained 2.93 per cent to hit 52-week high of Rs 128.20 on the Bombay Stock Exchange. The stock closed at Rs 126.60.
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