Indian airline orders 50 Boeing planes

NEW DELHI -- Jet Airways of India ordered 50 Boeing 737 MAX planes recently, the Wall Street Journal reported Wednesday.

The airline's plan -- worth up to $5.37 billion -- is to keep up with a potential rise in travel demand among Indian carries.

Though the companies have not officially announced the deal, the Wall Street journal said the order was placed two months ago. The companies are expected to make an announcement shortly.

Jet Airways is hoping the 737 MAX would allow the company to cut fuel costs, which account for 40 percent of operating cost, mainly due to a range of taxes imposed by the federal government.