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Homechevron_rightBusinesschevron_rightAir India to buy 300...

Air India to buy 300 planes in one of the largest aircraft deals in history

Air India to buy 300 planes in one of the largest aircraft deals in history

New Delhi: Air India is to place an order for as many as 300 narrowbody jets to overhaul its fleet services, according to a report by Bloomberg.

Sourcing from people familiar with the deal, the report said that the former state-run airline may order Airbus SE's A320neo family jets or Boeing Co.'s 737 Max models, or a mix of both.

Air India will have to shell out $40.5 billion for 300 737 Max-10 jets, but availing discounts for a large purchase could get a cut on the sticker price, according to the report.

A huge order from India for Boeing could mean a major breakthrough where its rival Airbus largely dominate the world's fastest-growing aviation market before covid.

The report details that production and delivery of 300 planes could take years, because Airbus builds about 50 narrow-body jets a month.

Representatives for Air India and Boeing reportedly would not comment on the deal.

Tata bought Air India earlier this year in the most high-profile privatization during Modi regime.

Inducting new planes into service could help the airline cut costs and compete better with rivals, according to the report.

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TAGS:BoeingAirbusAir India
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