India’s budget carrier SpiceJet is ready for significant fleet restructuring after a long time by planning to add more 737 MAX aircraft to its fleet. It is currently the only operator of the MAX in India and has more than 150 of the type on order from Boeing.

At least seven more MAX by year-end

SpiceJet could take delivery of at least seven new Boeing 737 MAX aircraft by December 2022. A report by Bloomberg reveals that the carrier could add the planes in the three months through December. However, sources have revealed that the airline might not have enough money to make pre-delivery payments.

Despite the cash crunch, SpiceJet is also negotiating for five more 737 MAX jets, according to people familiar with the matter. The airline placed an enormous order of 155 737 MAX airplanes in 2017, with the option of 50 more.

The carrier has 13 MAX aircraft in its fleet and has wanted to add more for a while now. Last year, SpiceJet’s chairman Ajay Singh explained that the airline intends to induct 50 Boeing 737 MAX planes by 2022-23 as it hopes to phase out its older Boeing 737-800 NG. In fact, he had expected that the company would receive its 14th MAX by December 10th last year.

SpiceJet and Boeing

The 737 aircraft carries the bulk of SpiceJet’s operations in India and abroad. The airline chose to continue with the family of jets and pinned its hope on the MAX for future growth. But the type’s grounding following the two fatal crashes and then COVID-19 paused those plans in the last few years.

It has been almost a year since Indian authorities cleared the MAX to fly in the country again, but SpiceJet has still not inducted any additional MAX to its fleet. Sources have revealed to Bloomberg that the relationship between Boeing and the airline has been lukewarm lately.

SpiceJet Boeing 737
Photo: Boeing

But Boeing realizes that it needs SpiceJet to make any serious inroads into the Indian narrowbody market, which has been dominated by the A320 completely. Earlier this year, SpiceJet posted a surprise profit, despite struggling in the previous months. But close inspection of its finances revealed that it was aided massively by its lodging of ‘other income’ for the value of $55.2 million – money attributed to the compensation from Boeing for the MAX delays.

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With Jet Airways, a former Boeing loyalist, reportedly interested in Airbus for future aircraft needs, Boeing needs all the support it can from airlines such as SpiceJet and Akasa Air, which has also placed its bet on the company’s MAX plane.

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Source: Bloomberg