SpiceJet completes 1.1 billion dollar financing of expansion pla

New Delhi, Aug 14 (UNI) Low-cost carrier SpiceJet and Babcock&Brown Aircraft Management (BBAM) alongwith its long-term strategic partner Nomura Babcock&Brown Company Ltd (NBB) today announced the signing of a sale and lease back agreement covering 16 brand-new Boeing 737-800/-900ER aircraft valued at over 1.1 billion dollars based on the manufacturer's list prices.

The aircraft will be delivered over 22 months beginning in January next year. Earlier, SpiceJet completed a similar financing with BBAM for its first four B737-800 aircraft deliveries.

With this, SpiceJet has now completed the financing of its first 20 aircraft orders for Boeing 737-800/-900ER aircraft.

Airline's chairman Siddhanta Sharma termed the deal as landmark in the history of company's evolution. ''BBAM and Nomura are one of the world's top aircraft financiers and their faith in SpiceJet makes us proud. The newly acquired capacity will go a long way to augment our network in the country.'' The no-frills carrier operates in 12 markets of Delhi, Bombay, Ahmedabad, Goa, Guwahati Pune, Bangalore, Kolkata, Jammu, Srinagar, Chennai and Hyderabad utilising modern B737-800 new generation aircraft with an all economy configuration of 189 seats.

BBAM is a leading aircraft operating lease company with 199 aircraft under management on lease to 68 airlines around the world.

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