Air India Close To Order Upto 500 Jets From Airbus, Boeing

Air India Close To Order Upto 500 Jets From Airbus, Boeing
  • Tata group-backed Air India is reportedly close to placing around 500 jetliners from Airbus SE EADSY EADSF and Boeing Co BA to be delivered over the next decade.
  • The order includes around 400 narrow-body jets and 100 or more wide-bodies, Reuters reported, as finishing touches are placed on the mammoth deal in the coming days.
  • Also see: US Lawmakers Decide Fate Of Boeing's 737 Max 7, Max 10 Regulatory Exemption.
  • This deal could top $100 billion, overshadowing a combined order for 460 Airbus and Boeing jets from American Airlines Group Inc AAL over ten years ago.
  • The report added that the deal would allow Airbus to secure a home for some A350 production slots initially earmarked for Russia's Aeroflot and now left open because of war-related sanctions against Moscow.
  • Founded by JRD Tata in 1932, Air India was nationalized in 1953. Tata regained control in January and has since been working to revive its reputation as a world-class airline.
  • Price Action: BA shares closed at $179.63 on Friday.

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