BENGALURU: Air India will buy 250 Airbus planes in a deal aimed at transforming the former national carrier, it said on Tuesday (Feb 14), after decades as a monumental burden on the public purse. The airline's first new aircraft purchase since 2006 is part of an ambitious plan to return to profitability in
BENGALURU: Air India will buy 250 Airbus planes in a deal aimed at transforming the former national carrier, it said on Tuesday , after decades as a monumental burden on the public purse.
Media reports said Air India is planning to unveil a similar purchase agreement with Boeing in the near future."We are going through a massive transformation," said Air India chairman N. Chandrasekaran, announcing the Airbus agreement with French President Emmanuel Macron and Indian Prime Minister Narendra Modi in virtual attendance.Air India was founded by tea-to-steel conglomerate Tata Group in 1932 and the Indian government bought a majority stake after independence.
The European aircraft manufacturer already has an engineering centre in the country and sources some components from Indian suppliers."I want to tell everybody that for me, this very important contract and this achievement today is one of the milestones of the in-depth strategic and friendly partnership we have between India and France," he said.
It is aiming to take a 30 per cent domestic share by the end of 2027 while expanding its fleet to cover more international routes.
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