Kaye Scholer and Link Legal India Law Services have represented Indian low-cost airline SpiceJet in a deal with aircraft manufacturing giant Boeing to buy planes worth $22 billion.
The transaction is said to be the biggest Indian aviation deal on record. SpiceJet plans to purchase 100 new MAX 737 aircraft from Boeing, with an option for 50 more as it pushes for growth, according to Reuters.
Kaye Scholer acted as international counsel to SpiceJet while partner Anand Srivastava headed Link Legal’s team, which advised on the deal’s Indian law aspects. A group of in-house lawyers handled the deal for Boeing.
Collectively, local airlines like IndiGo and GoAir have already placed orders for hundreds of new Airbus planes. According to Boeing’s estimate, about 1,850 new aircraft worth $265 billion by 2036 will be needed to meet demand for air travel in India, reported Reuters.