By The Financial District
Air India Set To Order 500 Jets From Boeing, Airbus
Air India is close to placing landmark orders for as many as 500 jetliners worth tens of billions of dollars from both Airbus and Boeing as it carves out an ambitious renaissance under the Tata Group conglomerate, industry sources said, Tim Hepher and Aditi Shah reported for Reuters.
Photo Insert: The potential order comes days after Tata announced the merger of Air India with Vistara, a joint venture with Singapore Airlines.
The orders include as many as 400 narrow-body jets and 100 or more wide-bodies, including dozens of Airbus A350s and Boeing 787s and 777s, they said, speaking on condition of anonymity as finishing touches are placed on the mammoth deal in the coming days.
Such a deal could top $100 billion dollars at list prices, including any options, and rank among the biggest by a single airline in volume terms, overshadowing a combined order for 460 Airbus and Boeing jets from American Airlines over a decade ago.
Even after expected discounts, the deal would be worth tens of billions of dollars and cap a volatile year for the industry reeling under the pandemic and mounting industrial and environmental pressures.
The potential order comes days after Tata announced the merger of Air India with Vistara, a joint venture with Singapore Airlines, to create a bigger full-service carrier and strengthen its presence in domestic and international skies.
That deal gives Tata a fleet of 218 aircraft, cementing Air India as the country's largest international carrier and second largest in the domestic market after leader IndiGo.
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