Indian budget airline SpiceJet plans to order more than 150 planes in the current financial year, the airline's chairman said on Sunday.

"We are in the process of placing a large aircraft order. The airline will order in excess of 150 planes - we hope to do that in this financial year," Ajay Singh, SpiceJet's chairman and managing director, told a news conference in Dubai. The financial year will end in March.

He said the airline was generating enough money internally but had unused credit lines that could be utilised to pay for the aircraft. SpiceJet has no intention of diluting equity to pay for the planes, he said.  - Reuters