Air India has announced two major deals worth around $100 billion to buy 470 passenger planes from top aircraft manufacturers, Airbus (with France) and Boeing (with United States).
Air India's deal with Boeing is for 190 737 MAXs, 20 787-Dreamliners and 10 777X jets, with the option to purchase an additional 50 737-MAXs and 20 787-Dreamliners, according to a company statement.
AdvertisementThe airline's order with Airbus is for 210 A320neo and A321neo narrow-body jets and 40 A350 widebodies.
The deal reflects India's aspirations to be a world leader in the aviation sector, which is projected to require over 2,000 aircraft in the next 15 years.
The deal is expected to make India the third-largest player in the aviation sector and create new opportunities in aerospace manufacturing under India's 'Make in India-Make for the World' vision.
In a Tuesday announcement at the Paris Air Show in Le Bourget, France, Boeing said it has finalised an order for up to 220 commercial jets for the fast-growing Air India, with options for another 70 planes. The same airline firmed up an earlier deal for 250 jets from Airbus, Boeing's European rival.
Just a day earlier, budget airline IndiGo placed a firm order for 500 Airbus A320 passenger jets. It's the largest deal in the history of commercial aviation.
India's civil aviation is among the fastest-growing aviation markets globally and will be a major growth engine to make India a $5 trillion economy by 2024.
The nation's aeroplane fleet is projected to quadruple in size to approximately 2500 aeroplanes by 2038.
The White House issued a "fact-sheet" on Thursday during PM Modi's state visit to the US, which said AI's order for over 200 Boeing aircraft "will support more than one million American jobs across 44 states and contribute to the modernisation of the civil aviation sector in India."
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
