Last Updated: April 3, 2021, 1830 hrs

SpiceJet the Indian low-cost air carrier plans to boost its fleet.

The airline announced having signed a Memorandum of Understanding (MoU) with the New York-based investment firm Avenue Capital over the financing of 50 new aircraft in sale and lease back model. However, the airline did not specify which aircraft types the investment firm would finance under the new MoU.

Ajay Singh, the Chairman and Managing Director of SpiceJet quoted in a statement, “We are delighted to enter into this strategic alliance with Avenue Capital Group and we look forward to closely working with them. This alliance will ensure a seamless induction of the planes in our fleet and help us plan better for the long term”.

SpiceJet operates a fleet consisting of 99 aircraft, including a single Airbus A321 jet, a single Airbus A340, 65 Boeing 737 Family aircraft, and 32 De Havilland Canada DHC-8 (Dash 8) turboprops.

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And according to the Boeing order and delivery list, the carrier also has 136 Boeing 737 MAXs on the order of which 7 have already been delivered to the company.

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