Air India has ordered 470 new aircraft – a record for the aviation industry – as the carrier pushes to become bigger global player.
Chairman N Chandrasekaran said the airline had its sights set on becoming “a world class proposition”.
The orders from Europe’s Airbus and US-based Boeing are aimed at modernising the airline’s fleet and allowing it to “dramatically” expand its network.
The first aircraft will go into service at the end of this year.
The orders come less than two years after persistent losses prompted the Indian government to sell the airline to Tata Group, India’s largest conglomerate, which had founded the company in 1932.
“Air India is on a large transformation journey,” Mr Chandrasekaran said in a statement announcing the deals. “This order is an important step in realising Air India’s ambition… to offer a world class proposition serving global travellers with an Indian heart.”
Air India said it was looking to Airbus to supply 250 planes, and Boeing for another 220 jets – a major boost for two companies that had seen commercial business drop sharply when travel slowed during the Covid pandemic.
At present, Indian travellers rely heavily on Emirates, Qatar Airways, Etihad and other Middle Eastern carriers to travel overseas.
These orders could change that, said aviation analyst Mark Martin, but the airline will face the challenge of rapidly modernising its operations, including software, maintenance and system for the new aircraft.
“If they are successful, they will take India’s uniqueness to the globe once again, after many years,” Mr Martin said.
