Boeing, SpiceJet Announce Order for 10 Next-Generation 737s

I've been moving, so sorry for posting this so late:

SEATTLE, Aug. 14, 2006 -- The Boeing Company [NYSE: BA] and New Delhi-based SpiceJet today announced that the airline converted its 10 options into an order for five Next-Generation 737-800s and five 737-900ERs. SpiceJet first announced the preliminary agreement for this order in February at the 2006 Asian Aerospace Air Show in Singapore. The order is valued at more than $700 million at list prices and deliveries are scheduled to begin in late 2007.

The options exercised today are part of an order SpiceJet originally placed in February 2005. That order included 10 737-800s, the first of which Boeing delivered to the airline in February 2006.

"The Boeing Next-Generation 737 is the most technologically advanced single-aisle airplane, which offers the best technical reliability and lowest operating unit cost, that is vital to our low-cost structure," said SpiceJet Board Director Bhulo Kansagra. "These aircraft will enable us to develop additional routes in India and bring our low fares to even more customers."

The 10 737s will be fitted with Blended Winglets, which will improve fuel efficiency, increase range and reduce takeoff noise.

"The 737 continues to play an integral role in meeting the needs of India's rapidly growing aviation market," said Dinesh Keskar, vice president of Sales, Boeing Commercial Airplanes. "We look forward to continuing to work closely with this valued customer as it expands its operations and serves its passengers."

SpiceJet, one of India's newest start-up private carriers, uses a single-class seating configuration on its short- and medium-haul flights within India. SpiceJet first began service in May 2005 with three leased Boeing 737-800s.