PanamaTimes

Tuesday, Apr 16, 2024

Air India nears largest plane deal in history

Air India nears largest plane deal in history

Air India's massive deal with Airbus and Boeing is a significant step for the airline to reinvent itself, take on local and international competitors, and upgrade service and reliability. The deal is also a win for Airbus and Boeing, who will benefit from their local ventures with Tata Group.
Air India, the Indian flag carrier, is nearing completion of what could become the largest purchase of jetliners in commercial aviation history, as the airline seeks to reinvent itself to take on local low-cost rivals and powerful Gulf airlines like Emirates.

The airline has signed agreements with Airbus and Boeing for around 500 passenger jets, with Airbus set to win about 250 orders and commitments and Boeing to secure about 290 possible purchases.

The deal is a combination of firm orders, memoranda of understanding and letters of intent, and the final tally could still change. The negotiations have been carried out over the past few months by Air India and its parent company, Tata Group, and the deal should allow the carrier to upgrade service, reliability and reduce fuel costs.

Tata bought Air India last year in the most high-profile privatisation under Prime Minister Narendra Modi.

As part of the purchase, the group is consolidating its aviation business, which includes four airline brands, and has said it would merge Air India with Vistara, which it jointly holds with Singapore Airlines (SIA).

That agreement will give SIA a 25.1% stake in the combined carrier. The plane deal is also a big win for Airbus and Boeing, both of which have local ventures with the Tata Group, India's largest conglomerate.

The global aviation industry has been upgrading and refreshing their fleets to capitalize on the rapid rebound in travel after the Covid pandemic, and this is also the case for Air India as the supply of newly built jetliners became increasingly constrained.

With China abruptly ending many of its harsh coronavirus measures and throwing open its international borders, airlines are ramping up their long-haul capacity, enticed by the prospect of the world's biggest outbound tourism market being open for business again and betting that demand more broadly will return to pre-pandemic levels in 2023.
Newsletter

Related Articles

PanamaTimes
0:00
0:00
Close
Apple warns against drying iPhones with rice
In a recent High Court hearing, the U.S. argued that Julian Assange endangered lives by releasing classified information.
Global Law Enforcement Dismantles Lockbit Ransomware Operation
Russian opposition leader Alexey Navalny has died at the Arctic prison colony
The President of Argentina Javier Mile does not fly private, he flies commercial, with the citizens he represents. And they LOVE him for it.
Bitcoin Reaches $50,000 for First Time in Over Two Years
Belo Horizonte: Brazil's Rising Carnival Hotspot for 2024
In El Salvador, the 'Trump of Latin America' stuns the world with a speech slamming woke policing after winning a landslide election
Tucker’s interview with Putin is over 50M views on X within the first 5 hours.
Finnish Airline, Finnair, is voluntarily weighing passengers to better estimate flight cargo weight
President Nayib Bukele has proudly announced El Salvador's remarkable achievement of becoming the safest nation in the Western Hemisphere.
Former Chilean President Sebastian Piñera Dies in Helicopter Crash
This farmer seems to understand science a bit more than the event organizer, Klaus Schwab.
Facebook turns 20: From Mark Zuckerberg's dormitory to a $1trn company
The Coolest Dictator in the World" on the Path to Victory in El Salvador
Macron, France and fake news
Indian-Origin Man 'King' Arrested For Smuggling $16 Million Drugs Into US
Can someone teach Americans that not every person with slanted eyes is Chinese?
Europe's Farmers Feeding the People, Protesting Against Politicians Who Do Nothing for Their Country and Serve Only Themselves at Taxpayers' Expense
Paris Restaurant That Inspired 'Ratatouille' Loses $1.6 Million Worth Of Wine
Brazilian Police Investigate Bolsonaro's Son for Alleged Illegal Spying
Police in Brazil Raid Residence of Bolsonaro Associate Over Allegations of Illegal Spying
Border Dispute Escalates as Texas Governor Vows Increased Razor Wire
OpenAI Enhances ChatGPT-4 Model, Potentially Addressing AI "Laziness" Issue
The NSA finally acknowledges spying on Americans by acquiring sensitive data
Report Reveals Toxic Telegram Group Generating X-Rated AI-Generated Fake Images of Taylor Swift
US Border Patrol States 'No Plans' to Remove Razor Wire Installed in Texas
Bitcoin Experiences Approximately 20% Decline in Value
Klaus Schwab recently appointed himself as the Earth's "trustee of the future."
DeSantis Drops Out, Endorses Trump.
Nikki Haley said former President Trump is "just not at the same level" of mental fitness as he was while president in 2016.
Residents of a southern Mexican town set the government palace on fire in response to the police killing of a young man
Samsung Launches AI-Driven Galaxy S24, Ushering in New Smartphone Era
Judge Questions SEC's Regulatory Overreach in Coinbase Lawsuit
The Ecuador prosecutor who was investigating the television studio attack, has been assassinated.
Is artificial intelligence the solution to cyber security threats?
Vivek Ramaswamy suspends his US election campaign and endorses Trump.
Viral Satire: A Staged Satirical Clip Mistaken as Real Footage from the 2024 World Economic Forum in Davos
The AI Revolution in the Workforce: CEOs at Davos Predict Major Job Cuts in 2024
Ecuador Reports 178 Hostages in Prison Gang Standoff
The Startling Cuban Espionage Case That Has Rattled the US Government
Two Armed Men in Ecuador, Dressed as Batman and The Joker Storm the Streets.
Armed Gang Raids Ecuadorian TV Station Following State of Emergency Declaration
Anti-Democratic Canada: Journalist Arrested for Questioning Canadian Finance Minister on Support of Terrorist Group
Ecuador's 'Most-Wanted' Criminal Vanishes from Prison
Mexican Cartel Supplied Wi-Fi to Locals Under Threat of Fatal Consequences for Non-Compliance
Border Surge Leads to Over 11,000 Migrants Waiting in Northern Mexico
Outsider Candidates Triumph in Latin American Elections
As Argentina Goes to the Polls, Will the Proposal to Replace the Peso with the Dollar Secure Votes?
Fatal Shark Attack Claims Life of Boston Woman Paddleboarding Near Bahamas Resort, According to Police
×