Home   »   Business Current Affairs & News   »   Air India's order for 470 jets...

Air India’s order for 470 jets at list price of $70 bn

Tata group-owned Air India’s order for a record 470 aircraft from Airbus and Boeing Co will be at a list price of $70 billion, Chief Executive Campbell Wilson said, as the airline seeks opportunities to expand in long-haul international.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

Mint on Twitter: "Tata group-owned #AirIndia's order for a record 470 aircraft from Airbus and Boeing will be at a list price of $70 billion, CEO Campbell Wilson said at a press

                                                                                                  (image credit: respective producer)

Air India’s deal for 470 planes:

Air India deal: Air India's record much bigger at 840 with 370 options & purchase rights | India Business News - Times of India

Air India had, earlier this month, announced provisional deals for 220 planes from Boeing and 250 from Airbus in an order that would eclipse previous records for an order by a single carrier. The airline plans to fund the order with a combination of resources, including internal cash flow, shareholder equity and sale-and-leaseback of aircraft, Wilson told reporters at a press conference.

Tata and Air India’s Renaissance:

Air India To Fund $70 Billion Aircraft Order With Equity, Leasebacks Amid Expansion Push

Air India, once considered a world-class airline in India, saw its image tarnish in the mid-2000s due to financial troubles, an ageing fleet and poor service. The airline’s renaissance under the Tata conglomerate, which took control of the previously government-owned carrier last year, aims to capitalise on India’s growing base of fliers and large diaspora across the world. Air India is inducting 500 cabin crew each month. It said last week that it will hire over 4,200 cabin crew and 900 pilots.

You may also Read: Tata Group bags Title sponsorship rights for the Women’s Premier League to 2027

International Day of Persons with Disabilities 2022: 3 December_90.1

Leave a comment

Your email address will not be published. Required fields are marked *