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SpiceJet, CFM Sign $12.5 Billion Engine, Service Deal

  • Agreement for purchase of LEAP-1B engines and 10-year service
  • Order follows $22 billion order for 155 Boeing aircraft
An event staff walks past an advertisement for SpiceJet Ltd. during an event in Mumbai.

An event staff walks past an advertisement for SpiceJet Ltd. during an event in Mumbai.

Photographer: Dhiraj Singh/Bloomberg

One of India’s fastest-growing airlines has signed a $12.5 billion deal with CFM International Inc. for engines and a 10-year services contract for an incoming fleet of more than 150 Boeing Co. 737 MAX aircraft.

SpiceJet Ltd. has agreed to buy the LEAP-1B engines and spare engines from CFM, which is a joint venture between France’s Safran Aircraft Engines SAS and General Electric Co.’s GE Aviation, the two companies said in a statement on March 10. The deal also includes a 10-year services contract for maintenance of the CFM engines, which will be billed on an hourly basis, the statement said.