NEW
DELHI: Low-cost carrier SpiceJet on Monday said it had signed a $1.1 billion
deal for sale and lease back agreement, covering 16 brand-new Boeing aircraft.
The
agreement was signed between the airlines and Babcock & Brown Aircraft
Management (BBAM) along with its long-term strategic partner Nomura Babcock
& Brown Co Ltd (NBB), covering 16 brand-new Boeing 737-800/-900ER aircraft
valued at over $1.1 billion based on the manufacturers list prices, SpiceJet
said in a statement.
SpiceJets
Chairman Siddhanta Sharma said the newly-acquired capacity will go a long way in
augmenting the airline's network in the country.
Commenting
on the deal, Steve Zissis, President of BBAM said the introduction of these
aircraft, along with SpiceJets low-cost business model will further improve its
dominance in the Indian market.
Earlier
in the year, SpiceJet completed a similar financing with BBAM for its first four
B737-800 aircraft deliveries. Together with todays announcement, SpiceJet has
now completed the financing of its first 20 aircraft orders for Boeing
737-800/-900ER aircraft.
