Budget airline SpiceJet said on Monday it struck a deal with another lessor of Boeing Co’s MAX jet, CDB Aviation, as it expects to start operating the jet in late September after India cleared the 737 MAX flight last month. .
The 737 MAX was grounded around the world in March 2019 after two fatal accidents in five months killed 346 people, plunging Boeing into a financial crisis, which has since been exacerbated by the pandemic.
In August, India’s aviation safety regulator, the Directorate General of Civil Aviation, said it cleared the flight of 737 MAX jets with immediate effect, after nearly two and a half years of regulatory grounding.
SpiceJet said in August that it expected its fleet’s 737 MAX aircraft on the ground to return to service in late September after an agreement with the lessor Avolon on the aircraft’s leases.
The lifting of the ban in India came months after the aircraft returned to service in the United States and Europe.
More recently, grounding orders were lifted in other countries, including Australia, Fiji, Japan and Malaysia.
The resumption of MAX aircraft services would be subject to regulatory approvals, said SpiceJet, India’s second-largest airline by market share and the only one in the country to fly the plane.
China is the largest market in the region that has yet to approve the return of the 737 MAX, although Boeing conducted test flights last month in the country.
Shares of SpiceJet rose 0.3% on Monday, while the owner of rival Indigo, InterGlobe Aviation, was down nearly 2%.
(Business Standard staff may have only modified the title and image of this report; the rest of the content is automatically generated from a syndicated feed.)