Airbus, Boeing and Air India inks agreement
In an effort to rebuild itself with a fleet that can compete with regional low-cost rivals and strong Gulf airlines like Emirates, Air India Ltd. has signed deals with Airbus SE and Boeing Co. for what may end up being the largest acquisition of aircraft in commercial aviation history.
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The deal’s complex structure, which consists of firm orders, memorandums of understanding, and letters of intent—both of which are less binding than an outright purchase agreement—could lead the final total to vary, according to the sources. Airbus, Boeing, and Air India representatives declined to comment.
The significant acquisition, which Air India and its parent company, Tata Group, spent months negotiating, should enable the airline to improve service and dependability while reducing fuel costs. Additionally, it’s an effort by the illustrious airline, which was established in the 1930s by Tata, to reclaim customers from rival Gulf carriers like Emirates or Qatar Airways, which have built a business model around transporting Indians to the US and Europe via their massive hubs in Dubai and Doha.
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