Air India to buy 470 Airbus, Boeing jets in massive order

Air India has placed a massive order for 470 Boeing and Airbus aircraft, reflecting the pace of growth in an increasingly affluent country that is also rebounding from the Covid pandemic.

The carrier is ordering 220 Boeing aircraft valued at $34bn, including 190 737 Max aircraft, 20 of the maker’s 787 variant and 10 of the long-haul 777X.

There is also an option for an additional 50 737 MAXs and 20 787s, totaling 290 airplanes for a total of $45.9bn. Airlines usually receive hefty discounts for bulk orders.

The airline is also buying 40 wide-body A350 Airbus aircraft and another 210 narrow-body A320neo planes. No financial details on that aspect of the deal were disclosed.

Air India was last year sold to the Tata group of companies - which originally owned the airline until its privatisation in 1953.

Tata Sons chair Natarajan Chandrasekaran announced the Airbus purchase on Tuesday at a virtual event attended by India’s prime minister Narendra Modi, and French president Emmanuel Macron.

Reporting by Frank Prenesti for Sharecast.com