Air India firms up $70bn orders with Boeing and Airbus for 470 jets at Paris Air Show

Paris Air Show, 21.06.2023:

Tata Group-owned Air India firmed up orders for 470 Airbus and Boeing aircraft worth $70 billion at list prices at the Paris Air Show on Tuesday, as it forges ahead with a transformation plan under its new owners.

The airline finalised a purchase agreement for 250 Airbus aircraft. This entails a firm order of 140 A320neo and 70 A321neo single-aisle aircraft, as well as 34 A350-1000 and six A350-900 wide-body jets, Airbus said in a statement.

Air India also confirmed the purchase of 220 Boeing aircraft. This includes 190 of the company’s 737 Max aircraft, 20 of its 787 Dreamliners and 10 of its 777X jets. It also signed options to buy another 50 737 Max jets and 20 787 Dreamliners, Boeing said in a statement.

“Our ambitious fleet renewal and expansion programme will see Air India operate the most advanced and fuel-efficient aircraft across our route network within five years,” Campbell Wilson, chief executive and managing director of Air India, said.

N Chandrasekaran, chairman of Tata Sons and Air India, said: “This landmark step further positions Air India for long-term growth and success that, we have every hope, will come together to represent the best of modern aviation to the world.”

The deals by the New Delhi-based flag carrier on Tuesday finalise the preliminary agreements outlined in February with both manufacturers.This move is part of Air India’s plans to invest in fleet renewal, upgrade its services and grow its domestic and international route network.

These orders will also help the carrier offer long-haul flights directly from India, bypassing other regional centres, to serve India’s expanding base of air travellers and massive diaspora, analysts said.

Air India’s order marks the first entry into service of the Airbus A350 wide-body in India. Deliveries are set to start with the first A350-900 before the end of the year.