Tata Group-owned Air India signed the purchase agreements to buy 470 aircraft from European manufacturer Airbus and USA-based Boeing. The purchase agreements were signed on the second day of the ongoing Paris Air show.
According to an official statement by Air India, the airline company has placed an order for 250 Airbus aircraft and 220 new Boeing jets worth $70 billion at list prices. The deal is one of the largest aircraft orders in civil aviation history.
"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," said N Chandrasekaran, Chairman of Tata Sons and Air India.
The deal comes a day after Indian budget carrier IndiGo signed a historic deal to buy 500 aircraft from Airbus.
Air India deal, which was drafted in February 2023, made it the then-biggest order ever placed by the number of aircraft.
“Congratulations, Air India on finalising a historic order for up to 290 Boeing aeroplanes. The combined efficiency and capabilities of the 737 MAX, 787 Dreamliner and 777-9 will enable Air India to grow sustainably for years to come,” Boeing Airplanes on Twitter. It is Boeing’s largest order in South Asia.
Air India’s orders include 70 widebody aircraft, comprising 34 A350-1000, six A350-900, 20 Boeing 787 Dreamliners and 10 Boeing 777X. It also includes 140 Airbus A320neo, 70 Airbus A321neo and 190 Boeing 737MAX narrowbody aircraft.
The first A350s are likely to be delivered later this year. Air India has started taking delivery of 25 Airbus A320s and Boeing 777s to increase its fleet and network expansion.
"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. We are proud to be working with all our partners in this journey to rebuild a global airline which reflects India taking a more confident posture around the world," said Campbell Wilson, CEO & MD of Air India.