Tuesday marked the official confirmation of Air India’s order for 470 Airbus and Boeing aircraft, which is valued at $70 billion list price.
AI signed a letter of intent (LoI) with the airframe giants in February to purchase 400 single aisle aircraft and 70 twin aisle aircraft, which will start entering its fleet in a few months.
This potentially results in an 840-aircraft deal by giving AI options and buy rights for an additional 370 aircraft.
At the ongoing Paris Air Show on Tuesday, the Tata Group airline signed purchase agreements for the 470 aircraft, including 34 A350-1000s, 20 Boeing 787 Dreamliners, 10 Boeing 777Xs, six A350-900s (70 wide bodies), and 190 Boeing 737MAXs, 140 Airbus A320neos, and 70 Airbus A321neos (400 narrow bodies).
N Chandrasekaran, chairman of Tata Sons and Air India, stated: “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.”
“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,” stated Campbell Wilson, CEO & MD of AI.
With a wide range of solutions, including parts and maintenance provisioning, digital applications, and modification services, Satair, an Airbus firm, and Boeing Global Services will enable AI. Later this year, the Airbus A350 will take the lead in delivering the new aircraft, with the majority of the order arriving starting in mid-2025. 11 leased B777s and 25 leased A330s are already being delivered to Air India.
Airbus chief commercial officer Christian Scherer said, “We are excited to be a key partner in the reinvention of the Flying Maharaja. Under the leadership of the Tata Group and a focussed new management, this is one of the most ambitious projects in the airline business today. We are proud that the efficiencies, comfort and range capability offered by our latest generation aircraft will contribute to the process, as Air India reclaims its rightful position as a world-class premium carrier. The Airbus services package is a perfect future-oriented choice that will form a core element of Air India’s transformation.”
“The fuel-efficient mix of next-generation airplanes including the 737 MAX, 787 Dreamliner and 777X will sustainably power Air India’s future fleet in the world’s fastest growing commercial aviation market,” said Boeing Commercial Airplanes president and CEO Stan Deal.
