March 12, 2014 / 4:30 AM / 4 years ago

REFILE-SpiceJet to announce order for 42 Boeing 737 MAX planes-source

HYDERABAD, March 12 (Reuters) - Indian budget airline SpiceJet Ltd will on Wednesday announce an order for 42 Boeing 737 MAX jets, a source with direct knowledge of the matter told Reuters.

SpiceJet has agreed to buy about 40 Boeing jets worth over $4 billion at list prices, industry sources had said in January, a move that could help the loss-making carrier as it seeks new investors.

The airline, controlled by billionaire Kalanithi Maran’s Sun Group, is seen as a target for foreign investors after India loosened restrictions on investment by foreign airlines.

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