Indian budget carrier SpiceJet said on Friday it had agreed to buy 100 new MAX 737 aircraft from Boeing, with an option for 50 more, as part of its expansion plans in the world's fastest growing aviation market. 

The deal is a welcome boost for Boeing in India, where SpiceJet is the U.S. company's only major customer among the budget carriers now dominating the country's air industry. 

"As part of this transaction they (Boeing) have not only been kind enough to give us good commercial terms but have worked hard to reduce the maintenance cost of the fleet going forward," Ajay Singh, SpiceJet's chairman, told a news conference in New Delhi.--REUTERS