Spice Jet and Boeing Company signed a deal worth 4.4 billion dollar (26000 crore rupees) on 12 March 2014. The deal was signed at the inauguration of India Aviation 2014 in Hyderabad.
The Spice Jet placed the order for 42 Next Generation 737 MAX8 aircraft and the aircrafts will be delivered in 2018. The 737 MAX8 (737-800) is 14 percent more fuel efficient compared with its 737 planes. 737 MAX8 has pleasing effect, bigger wings and new engine.
India is one of the world's fastest growing aviation markets with air passenger traffic forecasted to triple to more than 450 million by 2020 as incomes rises. IndiGo is currently the only one among India's national carriers that is making a profit.