Airline major Jet Airways on Monday confirmed its largest-ever fleet order for 75 Boeing 737 'Max' aircraft.
The order, which includes options and purchase rights for an additional 50 aircraft, was signed at the Dubai Airshow.
"This order is an endorsement of our confidence in the long-term prospects of the Indian aviation sector, which reflects the positive forecast for the country's economy, and offers tremendous potential for growth and development," Jet Airways chairman Naresh Goyal said.
"Jet Airways has led the path in Indian aviation, providing enhanced connectivity between domestic and international sectors. We are aligned with the Government of India's mission to provide affordable air connectivity to the people across the country" he added.
The company said that the transaction will be completely financed and managed through a sale and lease back arrangement, which will be signed, when Jet Airways takes delivery of the aircraft starting in 2018.
"These new generation aircraft are highly fuel efficient and will help drive our operational efficiency," Cramer Ball, chief executive of Jet Airways spoke about the aircraft's fuel efficiency.
Ball's views were corroborated by Boeing Commercial Airplanes' president and chief executive Ray Conner.
"The 737 MAX will bring new standards for fuel efficiency and economics, and a premium passenger experience to Jet Airways," Conner said.
The 737 'Max' incorporates the latest technologies such as 'CFM International LEAP-1B' engines, advance winglets and other improvements to deliver greater efficiency, reliability and passenger comfort.
The new aircraft are expected to support Jet Airways' replacement strategy and ensure it maintains a modern and environmentally friendly fleet.
Jet Airways, currently has a fleet of 115 aircraft, which includes a mix of state-of-the-art Boeing 777-300 ERs (extended range), Airbus A330-200/300, next generation Boeing 737s and ATR 72-500/600s.
The company has one of the youngest fleet of aircraft in the region, with an average age of 6.04 years. The airline operates flights to 73 destinations spanning the length and breadth of India and abroad.
