Jet Airways signs pact to buy 75 Boeing 737 aircraft

Aviation heavyweight Jet Airways surged by 3 per cent on the bourses on Wednesday as the company announced that it has signed a pact with Boeing to buy 75 B737 Max aircraft.


According to reports, the company is looking to expand and strengthen its presence in the domestic aviation market. The company which is a full service carrier has a fleet of nearly 119 planes that include Boeing 777-300 ERs, Airbus A330-200/300, Next Generation Boeing 737s and ATR 72-500/600s. While, the delivery of the additional 75 Boeing 737 Max aircraft is scheduled to arrive by July-August.

In Wednesday’s trade session, Jet Airways hit an intraday high of Rs. 632.25 per share and an intraday low of Rs. 618 per share on BSE. The stock had touched its 52-week high of Rs. 883.65 per share on January 5, 2018 and its 52-week low of Rs. 436 per share on May 31, 2017 on BSE, respectively.

At 11:38 hours IST, the stock was trading at Rs. 621.90 per share, higher by 1.31 per cent on BSE on Wednesday. Meanwhile, the S&P BSE Sensex was trading at 33,440.36 level, higher by 0.21 per cent and NSE Nifty50 was trading at 10,258.25 level, higher by 0.13 per cent.