INDIA (Jan 13): Indian budget carrier SpiceJet said on Friday it had agreed to buy 100 new MAX 737 aircraft from Boeing, with an option for 50 more, ramping up its fleet as it targets expansion in the world's fastest growing aviation market.

SpiceJet said it had signed a deal for buying up to 205 planes from Boeing - worth up to US$22 billion ($31.4 billion) at list prices - but the announcement includes 55 jets already announced in a 2014 deal and the possible follow-on order of 50 more.

"As part of this transaction have they (Boeing) not only been kind enough to give us good commercial terms but have worked hard to reduce the maintenance cost of the aircraft going forward," Ajay Singh, SpiceJet's chairman, told a news conference in New Delhi.

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