Tata-owned Air India to buy 250 jets from Airbus, announces N Chandrasekaran
In January last year, Tata Group took control of Air India after winning the bid for Rs 18,000 crore. Ever since it acquired the airline, the Tata Group has taken a number of steps to corner a larger share of the aviation sector.
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FollowTata-owned Air India has signed a deal to buy 250 aircraft from Airbus, group chairman N Chandrasekaran announced on Tuesday. The airline will purchase single-aisle A320 neos and widebody A350 aircraft as it continues its expansion drive by launching service on additional routes. The Tata Group-owned airline will buy 40 wide-body A350 planes and 210 narrow-body aircraft. The wide-body aircraft will be used for ultra-long flights.
"We have built a very good relationship with Airbus. Today I am happy to announce that we have signed a letter of intent to acquire 250 aircraft from Airbus," Chandrasekaran said.Â
The partnership's debut was attended by Prime Minister Narendra Modi, French President Emmanuel Macron, Aviation Minister Jyotiraditya Scindia, and Guillaume Faury, CEO of Airbus.
PM Modi said India will become the third-largest player in the aviation sector. "India will need 2,500 aircraft in the next 15 years," he added. "This contract is a milestone in the friendly relations between India and France," Macron added.
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There were reports last week about the sale, which they said may be the single largest order ever placed by an airline. According to the report, Air India and the US-based Airbus inked the agreement on February 10.
Tata Group acquired control of Air India in January of last year after winning the tender for Rs 18,000 crore. The Tata Group has taken a variety of actions to gain a greater piece of the aviation industry ever since it purchased the airline.
In November, the Tata Group announced the merger of Vistara - a 51:49 joint venture between Tata Sons and Singapore Airlines - with Air India. With a combined fleet of 218 aircraft, Air India overtook IndiGo as the largest domestic carrier and rose to second place internationally.
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