Tata-owned Air India has made the largest deal in aviation history by buying 500 new aircraft from Airbus and Boeing.
The deal is valued at over $100 billion and includes 250 Airbus and 220 Boeing aircraft.
The new aircraft will be delivered over the next eight years and will help modernize the airline’s aging fleet.
This move is expected to give Air India a much-needed image makeover and restore its reputation as a world-class carrier with impeccable service.
The Tata Group, which operates Air India, Vistara, and AirAsia India, is also consolidating its operations under one brand.
After the merger, Air India will have a fleet size of 218, making it a major player in the aviation industry.
With the new aircraft, Air India aims to re-capture a significant share of trips between India and overseas destinations.
The deal will also allow Air India to compete with IndiGo, the country’s largest airline, in the regional international and domestic markets.
Overall, the deal is a major step towards modernizing the airline and restoring its reputation as a leading carrier in India and beyond.