Air India has placed an order for 470 aircraft from Airbus and Boeing at a list price of $70 billion, according to Chief Executive Campbell Wilson, as the airline seeks potential to expand in long-haul international travel.
Earlier this month, the airline placed tentative orders for 220 planes from Boeing and 250 from Airbus, breaking previous records for a single carrier order.
Wilson informed reporters at a news conference that the airline intends to fund the purchase with a combination of resources, including internal cash flow, shareholder equity, and aircraft sale-and-leaseback.
“We have committed to a historic order of new aircraft that will begin entering the fleet from the end of this year through the end of this decade, to both change the fleet and power significant network and capacity development.”
Wilson stated
Due to financial difficulties, an ageing fleet, and subpar service, Air India, formerly regarded as a world-class airline in India, had its reputation tarnish in the mid-2000s.
The resurgence of the airline under the Tata corporation, which acquired control of the once government-owned carrier last year, wants to take advantage of India’s expanding traveller base and sizable diaspora around the globe.
Monthly, 500 new cabin crew members are hired by Air India. Almost 4,200 cabin crew and 900 pilots will be hired, the company announced last week.
The largest revolution in aviation history has likely begun with Air India, Wilson continued.
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