Story: Tata's Air India to order 500 Aircrafts; 17-01-2023;
Air India is set to order around 500 planes: world's leading aircraft lessors said.
• Tata's Air India to buy 500 jetliners worth $100 billion, say reports.
• Air India to buy 500 planes as airline industry recovery takes hold following the pandemic, one of the world's leading aircraft lessors said on Monday.
The Air India, which was acquired by Tata Group just last year after 68 years with whooping worth of ₹18,000 crores, now going forward with an order of 500 jets from both Airbus and Boeing, industry sources said on Sunday. Tata Group looks to ambitiously revive the old age Air Line.
The reports surfacing online claim that orders may include as many as 400 narrow-body jets and 100 or more wide-bodies, including dozens of Airbus A350s and Boeing 787s and 777s.
Steven Udvar-Hazy, executive chairman of AirLease Corp :
“As a result of this recovery, there is now more momentum for large orders from airlines who have sort of sat back and watched the movie, and now they're seeing there's going to be a positive trend.” Steven Udvar-Hazy, executive chairman of AirLease Corp (AL.N), told the Airline Economics conference. Reported by Reuters .
“We have this 500-aircraft order coming out of India, which is going to be about 400 narrow-body aircraft, probably a mix of (Airbus) A320neos, A321neos and (Boeing) 737 MAXs, and 100 wide-bodies which will include (Boeing) 787s, 777X, potentially some 777 freighters and (Airbus) A350s.”
Steven Udvar-Hazy also said, “We do expect a number of airlines will place large orders, and again most of these orders will be for replacement.”
Industry sources say finalising the proposed deal depends on ongoing negotiations with engine makers.
Air India did not immediately respond to a request for comment. Airbus and Boeing had no immediate comment, according to Reuters.