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.
Airbus Group N.V.
€134.56
17:23 28/11/23
Boeing Co.
$222.45
09:40 28/11/23
CAC 40
7,250.13
16:59 28/11/23
DJ EURO STOXX 50
4,354.41
23:59 27/11/23
Dow Jones I.A.
35,413.06
04:30 15/10/20
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