New Delhi, Apr 4 (PTI) Jet Airways will purchase 75 narrow body Boeing 737 planes worth nearly USD 8.8 billion as the airline seeks to bolster its presence in the fast growing domestic aviation market.

Already, the full service carrier has an order for 75 Boeing 737 MAX aircraft and their delivery is scheduled to start by July-August this year.

The airline has entered into an agreement with the Boeing Company for “purchase of 75 Boeing 737 MAX aircraft”, it said in a regulatory filing late Tuesday.

The current listing price of a Boeing 737 MAX 8 aircraft is USD 117.1 million, according to the Boeing website. Based on this rate, the cost of 75 such planes would be around USD 8.8 billion.

Last month, Jet Airways CEO Vinay Dube had said the airline is likely to close the order for another 75 narrow-bodied planes shortly.

Jet Airways has a fleet of nearly 120 planes, comprising Boeing 777-300 ERs, Airbus A330-200/300, Next Generation Boeing 737s and ATR 72-500/600s.

Most local carriers have ambitious plans to expand their fleet amid increasing demand in the aviation sector.

In February, the domestic aviation sector grew more than 24 per cent on a month-on-month basis, as per official data.

Shares of Jet Airways declined 1.55 per cent to close at Rs 604.35 on the BSE today.

This is published unedited from the PTI feed.