Air India is in the final stage of placing a historic order for around 500 aircraft worth billions of dollars from Airbus and Boeing as its new owner Tata Group embarks on an ambitious plan to revive the fortune of The Maharaja.
According to Reuters, Air India will buy as many as 400 narrow-body jets and 100 or even more wide-body aircraft. The orders include Airbus A350s and Boeing 787 and 777 models, sources in the industry told the news agency.
Final touches are being given to the deal.
None of the parties involved in the deal – Tata Group, Airbus and Boeing – have commented on it so far.
If materialised, it will be the biggest order by an airline ever in the history of global aviation. Currently, American Airlines holds the record for the most jets ordered at the same time.
It would take around a decade for Airbus and Boeing to deliver these orders.
According to reports, American Airlines ordered 460 narrowbody aircraft from Airbus and Boeing for more than $38 billion in 2011.
The report of this order comes weeks after Tata Group announced to merge Vistara airlines with Air India to make a full-service carrier and boost up its strength in the skies – both domestic and international.
Vistara, which was a joint venture with Singapore Airlines gave Air India a fleet of 218 aircraft, making the former government-run airline the country’s largest international air transporter.
With this merger, the enlarged Air India group will have Air India, Vistara, AirAsia India and Air India Express. Tata Group is in the process of merging Air India Express and AirAsia India into one entity to offer economic flying options to travellers.
With a huge fleet and presence in all flying segments, Air India plans to control a significant portion of air traffic to and from India as well as in the regional and international markets.
Tata Group completed the purchase of Air India from the government of India in January – 69 years after it was nationalised.