storminpilot
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http://yahoo.reuters.com/financeQuoteCompanyNewsArticle.jhtml?duid=mtfh65641_2005-02-09_11-16-33_del310867_newsml
UPDATE 1-Boeing sells 10 jets for $630 mln to India's Royal
Wed Feb 9, 2005 06:16 AM ET
(Changes dateline, adds Boeing comments, detail)
BANGALORE, Feb 9 (Reuters) - Boeing Co. (BA.N: Quote, Profile, Research) said on Wednesday it will sell 10 737-800 planes to Royal Airways Ltd. (ROYA.BO: Quote, Profile, Research) for $630 million for the Indian airline's new discount carrier, SpiceJet, and saw more such deals ahead.
Royal Airways has the option to buy 10 more 737-800s, the U.S. commercial jet maker said in a statement, coinciding with the Aero India industry show in Bangalore.
Dinesh Keskar, president of Boeing's aircraft trading business, told Reuters that India's growing private airlines and fleet expansion plans by state-run Indian Airlines [IA.UL] and Air-India [AI.UL] had set the stage for more sales.
"In India, domestic growth in the industry is phenomenal. It is 20 percent, and Air-India is a big story as it needs 50 wide-bodied aircraft," Keskar said.
Jet Airways, opening an initial public offer of shares next week, was already a Boeing customer for 737 jets, he said, and a potential customer for long-range aircraft following India's recent decision to allow local private airlines to fly overseas.
Boeing rival Airbus, a unit of Europe's EADS (EADS.PA: Quote, Profile, Research) , had said on Tuesday that private Indian airlines offered immense scope for growth.
Airbus made recent sales to both Air Deccan and Kingfisher Airlines, both part of a low-cost airline trend in India. Shares in Royal Airways, the latest to enter India's competitive market for low-cost carriers, fell 6 percent to close at 58.70 rupees in a firm Bombay market. (Additional reporting by Rina Chandran in Bombay)
UPDATE 1-Boeing sells 10 jets for $630 mln to India's Royal
Wed Feb 9, 2005 06:16 AM ET
(Changes dateline, adds Boeing comments, detail)
BANGALORE, Feb 9 (Reuters) - Boeing Co. (BA.N: Quote, Profile, Research) said on Wednesday it will sell 10 737-800 planes to Royal Airways Ltd. (ROYA.BO: Quote, Profile, Research) for $630 million for the Indian airline's new discount carrier, SpiceJet, and saw more such deals ahead.
Royal Airways has the option to buy 10 more 737-800s, the U.S. commercial jet maker said in a statement, coinciding with the Aero India industry show in Bangalore.
Dinesh Keskar, president of Boeing's aircraft trading business, told Reuters that India's growing private airlines and fleet expansion plans by state-run Indian Airlines [IA.UL] and Air-India [AI.UL] had set the stage for more sales.
"In India, domestic growth in the industry is phenomenal. It is 20 percent, and Air-India is a big story as it needs 50 wide-bodied aircraft," Keskar said.
Jet Airways, opening an initial public offer of shares next week, was already a Boeing customer for 737 jets, he said, and a potential customer for long-range aircraft following India's recent decision to allow local private airlines to fly overseas.
Boeing rival Airbus, a unit of Europe's EADS (EADS.PA: Quote, Profile, Research) , had said on Tuesday that private Indian airlines offered immense scope for growth.
Airbus made recent sales to both Air Deccan and Kingfisher Airlines, both part of a low-cost airline trend in India. Shares in Royal Airways, the latest to enter India's competitive market for low-cost carriers, fell 6 percent to close at 58.70 rupees in a firm Bombay market. (Additional reporting by Rina Chandran in Bombay)
