News Desk
ISLAMABAD/NEW DELHI: Tata Group-owned Air India is close to placing a historic order for as many as 500 planes from Boeing and Airbus, costing billions of dollars.
Air India jets
The orders included at least 400 narrow-body and around 100 wide-body jets including a large number of Airbus A350s and Boeing 787s and 777s.
The mammoth deal in expected to be finalised in the coming days, sources told Reuters adding that the deal could cost up to $100 billion to be ranked among the biggest by a single airline in terms of volume.
A decade ago, American Airlines placed a combined order for 460 Airbus and Boeing jets.
The historic deal worth tens of billions of dollars is expected to prop up a volatile year for plane giants whose jets were again in demand after the coronavirus pandemic.
Airbus (AIR.PA) and Boeing declined to comment. Tata Group-owned Air India did not respond to a request for comment.
The blockbuster order comes days after India’s Tata announced the merger of Air India with Singapore Airlines Vistara to create a bigger full-service carrier for domestic and international routes.
Buying debt-ridden Indian airline had also given Tata access to valuable flying rights and landing slots, especially to destinations in Europe and the US.
Hurdles to growth
Air India’s maharajah mascot was once synonymous with the best service but its reputation plummeted in 2000 as its financial troubles exacerbated.
Founded by JRD Tata in 1932, Air India was nationalized in 1953 before it was taken back by Tata in January. Tata has since been working to revive Air India’s reputation as a world-class airline.
