Friday, February 11 2005 17:31 Hrs (IST) - World Time -

Mumbai: Jet Airways plans to acquire 10 Boeing 737NGs (new generation) from March 2006 even as it proposed an outlay of Rs 300 crore as expenditure towards purchasing slots at foreign airports, aircraft leasing and other infrastructural support.

The Boeing 737NG aircraft would be for delivery between March 2006 and November 2007 and could cost upwards of $ 450 million, Jet Airways (India) Ltd executive director Saroj Dutta told newspersons in Mumbai today (Feb 11, 2005).

The listing price of a Boeing is around $ 45-60 million depending on the type of aircraft.

Dutta said the type of Boeing is flexible - 737-700, -800 or -900 series, depending on the market conditions for the domestic market. "We will convey to Boeing the type at a later date," he added.

Asked about the source of funding, the airline chairman Naresh Goyal said, "We have made the necessary disclosures in the offer document, which has been cleared by SEBI (Securities and Exchange Board of India)."

On expansion plans, he said the lease agreements were being finalised to get three Airbus A340s to begin daytime flights from Mumbai to London while three leased Boeing 737-800s would be operated on the Delhi-Singapore and Chennai-Kuala Lumpur sectors on a daily basis.

Under the bilateral agreements with United Kingdom, Government has allotted Jet seven flights and Sahara two to Heathrow and Gatwick airports respectively.

Goyal said he was considering various operations to US via Europe, once the necessary approvals are in place.