JET Airways India is in advanced talks to order 50 airbus A220 aircraft, marking what could be a fresh beginning for the bankrupt airline, reports Bloomberg.
Deliveries of the new aircraft would start in 2025, said sources. A deal for 50 such planes would probably be valued at around US$1.8 billion after usual discounts, according to figures from leading aircraft appraiser Avitas.
It's unclear whether the planes will be bought outright by the airline or leased, or a mixture of both, the people said. The deal is still being finalised and is yet to be signed.
The airline, once India's top private carrier, is undergoing a court-monitored restructuring and seeking to reenter a market notorious for cut-throat fare wars and some of the world's costliest jet-fuel prices. IndiGo, operated by InterGlobe Aviation is the clear leader, controlling over 50 per cent of the domestic market while more than half a dozen carriers fight for the rest.
Jet Airways, planning to return with a mix of premium and no-frills services, is also in separate talks with Boeing and Airbus to potentially place a 'sizable' order from the 737 Max or A320neo families of jets, sources said.
Dubai-based, Indian-origin businessman Murari Lal Jalan and Florian Fritsch, the chairman of London-based financial advisory and alternative asset manager Kalrock Capital Management are in the process of taking over Jet Airways.
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Deliveries of the new aircraft would start in 2025, said sources. A deal for 50 such planes would probably be valued at around US$1.8 billion after usual discounts, according to figures from leading aircraft appraiser Avitas.
It's unclear whether the planes will be bought outright by the airline or leased, or a mixture of both, the people said. The deal is still being finalised and is yet to be signed.
The airline, once India's top private carrier, is undergoing a court-monitored restructuring and seeking to reenter a market notorious for cut-throat fare wars and some of the world's costliest jet-fuel prices. IndiGo, operated by InterGlobe Aviation is the clear leader, controlling over 50 per cent of the domestic market while more than half a dozen carriers fight for the rest.
Jet Airways, planning to return with a mix of premium and no-frills services, is also in separate talks with Boeing and Airbus to potentially place a 'sizable' order from the 737 Max or A320neo families of jets, sources said.
Dubai-based, Indian-origin businessman Murari Lal Jalan and Florian Fritsch, the chairman of London-based financial advisory and alternative asset manager Kalrock Capital Management are in the process of taking over Jet Airways.
SeaNews Turkey