A logo of jet manufacturer Bombardier is pictured on their booth during the European Business Aviation Convention & Exhibition (EBACE) in Geneva, Switzerland, May 22, 2017. REUTERS/Denis Balibouse - RTX37E9K

(Reuters) - Canadian airplane maker Bombardier Inc BBDb.TO said on Tuesday it agreed to sell up to 50 Q400 turboprop aircraft to Indian budget carrier SpiceJet Ltd SPJT.BO.

SpiceJet will buy 25 Q400 turboprop aircraft from Bombardier, as per a letter of intent between the two companies. The Indian airline has the option to buy 25 more planes.

An order could be valued at up to $1.7 billion, based on the list price for the 86-seater Q400, Bombardier said.