The public Investment Board (PIB) has cleared Air-India’s $ 350-million fleet expansion programme for the acquisition of two more Boeing 747-400s. This will be in addition to the four Boeing 747-400 aircraft already acquired and put into commercial operation by Air-India. According to informed sources, the decision of the PIB was taken here today after tight scrutiny of the detailed project report. At one stage it was thought that an investment of $350 millions by Air-India would be difficult to justify in view of the excess capacity in the international aviation industry and the fierce fare war to increase the seat/load factor of competing international airlines.
30/12/14 Business Line
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30/12/14 Business Line
