<p class="bodytext">Jet Airways Ltd has entered into an agreement to buy 75 Boeing Co 737 MAX narrowbody jets, worth $8.8 billion, to meet passenger demand which has shown no sign of abating after years of growth.</p>.<p class="bodytext">Jet Airways, in a filing to the stock exchange late on Tuesday, did not say whether the agreement was a formal order or a non-binding memorandum of understanding.</p>.<p class="bodytext">Boeing did not respond to a request for comment.</p>.<p class="bodytext">The jets would be worth $8.8 billion at list prices, though airlines typically receive significant discounts from manufacturers.</p>.<p class="bodytext">Shares of Jet Airways rose as much as 3.2 percent in Wednesday morning trade and were trading up 1.4 percent. The wider Mumbai market was up 0.25 percent.</p>.<p class="bodytext">The latest agreement comes as Indian airlines rush to expand fleets to meet an ever-increasing demand for domestic as well as international flights, making it one of the most targeted sales markets for Boeing and European rival Airbus SE.</p>.<p class="bodytext">Boeing said in July it expected Indian airlines to order up to 2,100 aircraft worth $290 billion over the next 20 years, calling it the highest-ever forecast for Asia's third-largest economy.</p>.<p class="bodytext">Domestic passenger traffic increased 17.9 percent in January from a year earlier for the 41st consecutive month of double-digit growth, showed data from the International Air Transport Association.</p>.<p class="bodytext">Jet Airways Chief Executive Vinay Dube last month told reporters the airline was hoping to close the latest deal by the end of March.</p>.<p class="bodytext">The airline finalised a separate deal to buy 75 other Boeing 737 MAX aircraft last year.</p>
<p class="bodytext">Jet Airways Ltd has entered into an agreement to buy 75 Boeing Co 737 MAX narrowbody jets, worth $8.8 billion, to meet passenger demand which has shown no sign of abating after years of growth.</p>.<p class="bodytext">Jet Airways, in a filing to the stock exchange late on Tuesday, did not say whether the agreement was a formal order or a non-binding memorandum of understanding.</p>.<p class="bodytext">Boeing did not respond to a request for comment.</p>.<p class="bodytext">The jets would be worth $8.8 billion at list prices, though airlines typically receive significant discounts from manufacturers.</p>.<p class="bodytext">Shares of Jet Airways rose as much as 3.2 percent in Wednesday morning trade and were trading up 1.4 percent. The wider Mumbai market was up 0.25 percent.</p>.<p class="bodytext">The latest agreement comes as Indian airlines rush to expand fleets to meet an ever-increasing demand for domestic as well as international flights, making it one of the most targeted sales markets for Boeing and European rival Airbus SE.</p>.<p class="bodytext">Boeing said in July it expected Indian airlines to order up to 2,100 aircraft worth $290 billion over the next 20 years, calling it the highest-ever forecast for Asia's third-largest economy.</p>.<p class="bodytext">Domestic passenger traffic increased 17.9 percent in January from a year earlier for the 41st consecutive month of double-digit growth, showed data from the International Air Transport Association.</p>.<p class="bodytext">Jet Airways Chief Executive Vinay Dube last month told reporters the airline was hoping to close the latest deal by the end of March.</p>.<p class="bodytext">The airline finalised a separate deal to buy 75 other Boeing 737 MAX aircraft last year.</p>