US Vice President Mike Pence to visit India

SpiceJet with about 50 planes controls 14% of the domestic market share

He is the man Vice-President Mike Pence sought out on Tuesday from a hall full of top business executives from India and the US at the annual summit of US India Business Council and met him backstage before taking the podium.

Starting a week before Trump's inauguration in January, SpiceJet has placed orders for 225 planes with Boeing, which is worth more than $22 billion and which will, according to a United States government certification, create 132,000 jobs.

Also, Prime Minister Modi extended an invitation to the US VP which he has accepted.

Pence said the U.S. plans to collaborate with India on issues such as terrorism and commerce, eventually aiming to quadruple the two-way trade between the countries.

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Other winners include AirAsia for best low-priced airline in the world and Etihad for best first-class in the world. Moreover, foreign ownership laws would prevent it from buying more than 24.9%.

SpiceJet, at the beginning of 2017, had also ordered 100 Boeing 737 Max aircraft, valued at $11 billion.

Now, the company has received praise from US President Donald Trump over the order deal of new planes from US.

Spice Jet has placed an order of $22-billion for Boeing planes which is likely to help create more jobs in the aviation sector in the US.

SpiceJet recently placed orders with Bombardier Commercial Aircraft for the purchase of up to 50 Q400 turboprop planes, valued at up to $1.7 billion. IN is the state of which he was the Governor. Singh further added, "As per the US Department of Commerce, it creates 1,32,000 high-skilled, high-paid American jobs within the US".

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While addressing the USIBC Pence said, "I know that American companies are going to continue to give India's aviation industry the wings it needs to soar. And let me just take the opportunity, as the President did yesterday, to say thank you to SpiceJet for investing and believing in American workers and American businesses".

India, which was the world's fastest growing aviation market a year ago, is crucial for planemakers like Boeing Co and Airbus SE, as airlines see increased demand from the rising middle class. Demand has pushed Singapore Airlines Ltd and AirAsia Bhd to set up local units that are grappling with poor infrastructure, stiff competition resulting in below-cost fares and taxes that make jet fuel the costliest in Asia. It is a matter of record that for the last 25 months in a row, SpiceJet had a load factor in excess of 92 per cent.

Singh in his statement about SpiceJet's order, said, "We have placed a large order for the Boeing 737 MAX, in fact, the biggest ever placed by an Indian airline with Boeing".

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