India’s Jet Airways to purchase 75 Boeing 737 Max narrowbody jets for $8.8 billion

For the 41st time, India’s domestic air traffic is seeing double digit growth.

India’s Mumbai-based Jet Airways Ltd disclosed it plans on purchasing 75 Boeing 737 MAX narrowbody jets from the U.S. airplane maker.

Jet Airways did not disclose in its filing to the the Bombay Stock Exchange, whether the agreement was a formal order or whether it was a non-binding memorandum of understanding.

Boeing did not respond immediately to a request for comment.

At list prices, this order would be worth $8.8 billion although airplane makers typically provide significant discount to airlines.

With an increase in domestic and international flights, Indian airlines are scrambling to add more jets to their fleet, which makes India one of the biggest sales destination for Airbus Se and Boeing.

According to the International Air Transport Association, India’s domestic air traffic saw a jump of 17.9% which marks it 41st consecutive double-digit growth year-on-year.

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