JET AIRWAYS TO BUY 75 BOEING 737 MAX JETS

In the first week of April this year, Jet Airways entered into an agreement to buy 75 Boeing 737 MAX narrow-body jets, worth $8.8 billion, to meet passenger demand which has shown no sign of abating after years of growth. The latest agreement comes as Indian carriers rush to expand fleets to meet an ever-increasing demand for domestic as well as international flights, making it one of the most targeted sales markets for Boeing and European rival Airbus. Boeing said in July it expected Indian airlines to order up to 2,100 aircraft worth $290 billion over the next 20 years, calling it the highest-ever forecast for Asia’s third-largest economy. As per data from the International Air Transport Association, domestic passenger traffic increased 17.9 per cent in January from a year earlier for the 41st consecutive month of double-digit growth.