NEW DELHI, India: A year since the Tata Group took over Air India, the former state-owned carrier has purchased half of an order for 495 jets with Boeing and engine suppliers General Electric and CFM International.
After months of closely guarded negotiations, Air India is going to place an order for 190 Boeing 737 MAX narrowbody planes, as well as some 20 Boeing 787 s and 10 Boeing 777 X.
The second half of the order, which industry sources said includes around 235 Airbus single-aisle jets and 40 Airbus A 350 widebody aircraft, is expected to be completed over the coming days.
Senior Boeing officials, including Stanley Deal, the chief executive officer of Boeing Commercial Airplanes, along with GE and CFM executives, are expected to be in India this week to mark the closing of the purchase.
Air India did not reply to a request for comment, but in a note to employees, marking its first anniversary under Tata's ownership, the airline said it is finalizing a historic order of new aircraft to power future growth. In a report last month, Reuters reported that Air India was closing in on a deal for around 500 jets.
The order is intended to place Air India in the top of the big global airlines and make it an influential customer for plane manufacturers and suppliers at a time when its home market is seeing a strong post-COVID 19 travel surge.
Air India has set a goal to corner 30 percent of the domestic market over the next five years, thereby narrowing the gap with market leader IndiGo. Campbell Wilson, the airline's chief executive, said it wanted to increase by multiples its share of international travel.