| Spicejet inks deal for $1.1bn to buy 16 planes |
| Our Web Bureau / Mumbai August 14, 2006 |
| Spicejet and Babcock & Brown Aircraft Management (BBAM), along with its long-term strategic partner Nomura Babcock & Brown (NBB), announced the signing of a sale and lease back agreement covering sixteen brand-new Boeing 737-800/-900ER aircraft valued at over $1.1 billion. According to a release issued to the BSE today, the aircraft will be delivered over approximately 22 months beginning January 2007. "Earlier in the year, the company completed a similar financing with BBAM for its first four B737-800 aircraft deliveries. The company has now completed the financing of its first twenty aircraft orders for Boeing 737-800/-900ER aircraft," the release added. Siddhanta Sharma, chairman of Spicejet, termed the deal as "a landmark in the history of company |
