New Delhi: No-frills airline SpiceJet on Saturday inked $12.5 billion deal with French major Safran Group for CFM aircraft engines.
At current exchange rate, the deal is worth more than Rs 81,000 crore and is one of the biggest in the aviation sector.
SpiceJet and Safran Group, have now finalised the purchase of LEAP-1B engines to power a total of 155 Boeing 737 MAX planes, along with spare engines to support the fleet, according to a release.
CFM engines are manufactured by CFM International, a joint venture between Safran and General Electric.
The deal was inked at the Indo- French Economic Partnership signing ceremony here on the occasion of French President Emmanuel Macron visit to India.
The airline has also signed a ten-year Rate per Flight Hour (RPFH) agreement with CFM Services that covers all LEAP- 1B engines powering SpiceJet's 737 MAX planes.