Air India is about to place an order for as many as 500 jetliners from both Boeing and Airbus, reported Reuters citing industry sources.
The historic order is likely to comprise of as many as 100 narrow-body jets and 100 or more wide-body aircraft including Airbus A350, Boeing 78 and 777 models, the report added.
On Saturday, another report said the Tata Group carrier is expected to close signing a deal for 150 737 MAX aircraft with Boeing, as part of company’s expansion plans.
The Air India order of 500 aircraft, if it fruitions, will be historic not only in Indian aviation but globally. The most recent order of such a magnitude was placed in 2017 by US private equity fund Indigo Partners for 430 aircraft with Airbus. The deal was billed at $49.5 billion for delivery of 274 A320 Neos and 156 A321 Neos. It remains Airbus’ largest-ever order till date.
Air India which currently commands a 10% market share in India and 12% in the international, plans to expand its footprint to 30% in the next five years, with plans to overhaul international operations as well. CEO Campbell Wilson in October told reporters that the airline aims to have bag a 30% share in the domestic and global aviation market in the next five years.
The Indian aviation space is headed for cut-throat competition with the entry of debutant Akasa Air, relaunch of the troubled Jet Airways and revamp of an aggressive Maharaja under the leadership of Tata Group chairperson N Chandrasekaran.
