SpiceJet inks $12.5 billion deal with Safran for aircraft engines

Under the terms of the agreement, CFM guarantees maintenance costs for all SpiceJet's LEAP-1B engines on a pay by hour basis

SpiceJet has finalised $ 12.5 billion contract for LEAP-1B engines to power its fleet of 155 Boeing 737 Max planes.

The agreement which covers ten-year rate per flight hour agreement and spare engines was signed on Saturday on the sidelines of French president Emmanuel Macron's India visit. LEAP-1B engines are manufactured by CFM International, a part of Safran group of France and are the sole engine variant for the 737 Max planes.

Last January, the airline ordered Boeing 737 Max planes in $ 22 billion deal. SpiceJet expects to receive the first aircraft from the order in August and another