Lagatar24 Desk
New Delhi, Feb 15: Tata Group’s Air India has signed a jumbo deal with France’s Airbus and American plane-maker Boeing to purchase 470 passenger aircraft in the largest shopping event, making it the world’s largest aviation deal in history.
The move is being taken to significantly enhance India’s image on the global platform as an emerging leader in the commercial aviation sector.
The announcement comes a few hours after Air India and Airbus announced their mega deal for 250 planes in a virtual meeting attended by Prime Minister Narendra Modi and French President Emmanuel Macron, and others.
Ready to take off with 20 Boeing 787s and 10 Boeing 777-9s widebody aircraft, and 190 Boeing 737 MAX single-aisle aircraft. The B777/787s will be powered by GE Aerospace and B737 Max by CFM International#ReadyForMore @BoeingAirplanes @GE_Aerospace @GEIndia @CFM_engines
— Air India (@airindia) February 14, 2023
Air India has placed orders for 250 Airbus aircraft and 220 Boeing planes, expected to be worth more than $85 billion.
“It is a historic moment for Airbus to help script Air India`s revival,” said Airbus chief executive Guillaume Faury in a video conference with Prime Minister Narendra Modi, Ratan Tata, French President Emmanuel Macron and other leaders.
Addressing a virtual meeting with President @EmmanuelMacron on agreement between Air India and Airbus. https://t.co/PHT1S7Gh5b
— Narendra Modi (@narendramodi) February 14, 2023
US President Joe Biden on Tuesday welcomed Air India’s decision to purchase over 200 aircraft from Boeing and called it a ‘historic agreement between Tata-owned airlines and Boeing.’
Glad to speak with @POTUS @JoeBiden. Excellent discussion to review the ongoing and new initiatives to further deepen India-US Comprehensive and Global Partnership. We welcome the landmark @airindiain-@Boeing agreement which will help create new opportunities in both countries.
— Narendra Modi (@narendramodi) February 14, 2023
As per information, Air India is likely to buy as many as 220 planes from Boeing for USD 34 billion, with an option to buy 70 more aircraft, which could bring the total deal value to USD 45.9 billion. The Tata Group will buy 40 wide-body A350 planes and 210 narrow-body aircraft.
The narrow-body aircraft include 140 A320 planes and 70 A321neo ones. The wide-body aircraft will be used for ultra-long flights.
Notably, the Tata Group bought Air India from the government at an estimated cost of Rs 18,000 crore and got a 100% stake in the airline on January 27, 2022.
