Tuesday, February 14, 2023

Air India seals record order for almost 500 Airbus, Boeing jets

Bengaluru/Paris: Air India unveiled deals on Tuesday for a record 470 jets from Airbus and Boeing, accelerating the rebirth of a national emblem under new owners Tata Group as Europe and the United States hailed deepening economic and political ties with New Delhi.

The provisional deals include 220 planes from Boeing (BA.N) and 250 from Airbus (AIR.PA) and eclipse previous records for a single airline as Air India vies with domestic giant IndiGo to serve what will soon be the world's largest population.

U.S. President Joe Biden called the agreement "historic" and discussed it by telephone with Indian Prime Minister Narendra Modi - part of a flurry of high-level reactions as the scale of India's needs provided a rare bonanza for both competing plane giants in an industry where the winner usually takes all.

The Airbus order includes 210 A320neo narrowbody planes and 40 A350 widebody aircraft, which Air India will use to fly "ultra-long routes", Tata Chairman N Chandrasekaran said.

Boeing will supply 190 737 MAX, 20 of its 787 Dreamliners and 10 mini-jumbo 777X.

Together with another 25 Airbus jets to be leased, the overall acquisition reaches 495 jets, an Airbus executive said.

Reuters exclusively reported in December that Air India was nearing record airplane orders approaching 500 jets.

The airline's renaissance under the Tata conglomerate aims to capitalise on India's growing base of fliers and large diaspora across the world.

14/02/23 Reuters

To Read the News in full at Source, Click the Headline


Post a Comment