SpiceJet plans to order 10 more Boeings

SpiceJet had earlier ordered for 10 aircraft with an option for 10 more, which is now being converted firm orders

BY A CORRESPONDENT
2nd January 2005

Low-cost airline Spicejet is expected to place orders for ten more Boeings in 2006. This will include Boeing 737 ER extended range aircraft. With this, SpiceJet becomes the first airline in India to sport this model from Boeing.

The orders will be placed around August in 2006. SpiceJet had earlier ordered for 10 aircraft with an option for 10 more, which is now being converted firm orders.

SpiceJet recently raised $80 million through an issue of FCCBs (foreign currecy convertible bonds). This is out of the $92 million raised by the company in 2005. SpiceJet expects to spend the money for paying deposits for aircraft as well as for expansion.

Some of the stakeholders in SpiceJet include Goldman Sachs and the UAE-based Istithmar. Spicejet bonds are listed on the Luxembourg Stock Exchange.