Low-cost airline SpiceJet has closed a deal with Boeing to purchase up to 205 next-generation Boeing aircraft. The total order – for 155 Boeing 737 MAX and up to 50 wide-bodied aircraft – is valued at US$22 billion.
“The Boeing 737 class of aircraft has been the backbone of our fleet since SpiceJet began, with its high reliability, low operation economies and comfort,” said Ajay Singh, the airline’s chairman and managing director. “With the next generation of 737 and the 737 MAX we are sure that we can be competitive and grow profitably.”
Boeing says the 737 MAX will deliver 20% lower fuel use than the first next-generation 737s and the lowest operating costs in its class – 8% per seat less than its nearest competitor.
Link Legal India Law Services was the sole Indian counsel on the deal and represented SpiceJet on all drafting issues and negotiations with Boeing. The team comprised partner Anand Srivastava, associate partner Durgesh Singh and associates Kashish Arora, Priya Nagpal and Rahul Dave.
Kaye Scholer in London was the international counsel for Spicejet.
Boeing was represented by its in-house team.
This is the second big-ticket transaction in the aviation sector that Link Legal has closed in recent months. Earlier, it represented GMR Airports to gain concession rights from the government of Goa to develop a ₹31 billion (US$455 million) greenfield international airport in Goa on a public-private partnership basis.
Srivastava and Singh were also advisers on this transaction along with associate Abhishek Sarkar.
HSA Advocates represented the government of Goa.