Deals
SpiceJet, CFM Sign $12.5 Billion Engine, Service Deal
- Agreement for purchase of LEAP-1B engines and 10-year service
- Order follows $22 billion order for 155 Boeing aircraft
An event staff walks past an advertisement for SpiceJet Ltd. during an event in Mumbai.
Photographer: Dhiraj Singh/BloombergThis article is for subscribers only.
One of India’s fastest-growing airlines has signed a $12.5 billion deal with CFM International Inc. for engines and a 10-year services contract for an incoming fleet of more than 150 Boeing Co. 737 MAX aircraft.
SpiceJet Ltd. has agreed to buy the LEAP-1B engines and spare engines from CFM, which is a joint venture between France’s Safran Aircraft Engines SAS and General Electric Co.’s GE Aviation, the two companies said in a statement on March 10. The deal also includes a 10-year services contract for maintenance of the CFM engines, which will be billed on an hourly basis, the statement said.