Air India makes record-breaking purchase adding 470 planes from Boeing and Airbus
India is now the world’s most populated nation after surpassing China in 2022. Their population of 1.41 billion is steadily increasing and requires travel avenues to support it. The country just made a game-changing purchase of massive fleets from Boeing and Airbus.
Bloomberg reports that the country “made the most substantial purchase in the history of the airline industry.”
On Tuesday, Air India announced purchasing 470 planes that will be added to their commercial aviation fleets.
“The carrier will purchase 250 AirBus jets, including 210 A320neo family aircraft as well as 40 A350s. Bloomberg continued to provide details of the purchase, “and 220 Boeing models comprising 190 737 Max, 20 787s and 10 of its largest 777X.” Boeing also noted the airline may add to its purchase in the future with 50 more 737 Maxes and 20 787s.
The price tag for the fleet increase is reported to “likely exceed $60 billion.” Boeing claims their cut was valued at $34 billion; AirBus refrains from publicly publishing purchase prices.
To date, the largest airline procurement was a 460-plane deal by American Airlines in 2011.
The expansion of the country’s commercial airline is long overdue. Currently, India only has 700 airliners, including 50 wide-body jets. The country’s dismissive fleet barely amounts to the size of its populated counterparts, China and Dubai.
Bloomberg shared remarks from Tuesday’s press conference regarding the partnership. Guillaume Faury, the Airbus chief executive officer, said, “The time is right for India to turn into an international hub.”
Christian Scherer, chief of sales, mirrored his statement, adding that the purchase will allow Air India to go “deep into all the continents of the world” with nonstop service.
The new airplanes will allow Air India to compete with local “budget carriers” such as IndiGo and well-known airlines, Emirates, Etihad Airways and Qatar Airways.
Acquiring the new jets was a global effort. Indian Prime Minister Narendra Modi, US President Joe Biden and French President Emmanuel Macron were all included in the sale and announcement of the partnership.
CNN states President Joe Biden indicated the sale would “support over one million American jobs across 44 states, and many will not require a four-year college degree.” He added that the deal “reflected the strength of India’s economic partnership with the U.S.”
Martie Bowser is a journalist and public relations professional in Charlotte, NC. She enjoys amplifying the voices of POC and women that fill a void within their community. Her bylines include “person of interest” interviews, small business highlights, pop culture commentary, entertainment features, and everything Beyonce.
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This story was originally published February 17, 2023 at 7:40 AM with the headline "Air India makes record-breaking purchase adding 470 planes from Boeing and Airbus ."