Jet Airways [Get Quote] plans to acquire 10 Boeing 737NGs (new generation) from March 2006 and has proposed an outlay of Rs 300 crore (Rs 3 billion) as expenditure towards purchasing slots at foreign airports, aircraft leasing and other infrastructural support.

The Boeing 737NG aircraft had been planned to be delivered between March 2006 and November 2007 and could cost upwards of $450 million, Saroj Dutta, executive director of Jet Airways told newspersons in Mumbai on Friday.

The listing price of a Boeing is $45-60 million, depending on the type of aircraft.

Dutta said the type of Boeing  - 737-700, -800 or -900 series, to be purchased would depend on domestic market conditions. "We will convey to Boeing the type at a later date," he added.

Asked about the source of funding, the airline chairman Naresh Goyal said, "We have made the necessary disclosures in the offer document, which has been cleared by Sebi."

On expansion plans, he said the lease agreements were being finalised to get three Airbus A340 to begin daytime flights from Mumbai to London while three leased Boeing 737-800s would be operated on the Delhi-Singapore and Chennai-Kuala Lampur sectors on a daily basis.

Under the bilateral agreements with United Kingdom, the government has allotted Jet seven flights and Sahara two to Heathrow and Gatwick airports respectively.

Goyal said he was considering various operations to the US via Europe, once the necessary approvals are in place.