Jet Airways to buy 20 Boeing planes for $ 1.5 billion

New Delhi, Oct. 5 (UNI) Jet Airways said today it has signed an agreement with US-based Boeing Company for 20 Boeing 737-800 series aircraft.

In a filing to the Bombay Stock Exchange, the country's largest private airline said it also has the option to acquire an additional 10 aircraft. The 20 aircraft have a current book value of about 1.5 billion dollars (about Rs 6,000 crore), the Boeing Web site showed.

The delivery period for 20 planes is between October 2012 and December 2014, while 10 additional planes will be delivered between August 2013 and February 2015.

Jet added that the last of 10 previously ordered Boeing 737NG (new generation) aircraft are scheduled to be delivered on October 11. Most of the new planes will be used to replace older owned and leased aircraft.

UNI