The deal is locked with France's Airbus and rival plane maker Boeing!
Air India has sealed a great deal for about 500 new planes worth more than $100 billion, in what could become the single largest order by any airline so far as it looks forward to reinventing itself under its new owners, industry sources told Reuters.
The deal, split equally between France's Airbus and rival planemaker Boeing, was first reported by Reuters in December and could finally be announced next week, the sources told.
Air India has agreed to purchase 250 Airbus planes, split between 210 single-aisle A320neos and 40 widebody A350s, and 220 Boeing aircraft including 190 of its 737 MAX narrowbody jets, 20 787 widebodies and 10 777Xs.
On Friday, Airbus and Air India signed the agreement.
Boeing agreed its deal with the airline in January. 27, a date that marks a year since Tata regained ownership of the former state-run carrier, sources told Reuters.
Air India did not immediately respond to an email seeking comment.
In a note to employees on Jan. 27, the airline said it was "finalising a historic order for new aircraft".
The order reflects Air India's strategy to modernise its ageing fleet and re-capture a solid share of trips between India's large overseas diaspora and cities such as Delhi and Mumbai, dominated mainly by Gulf rivals such as Emirates with its younger planes.
The deal for 400 narrowbodies will also allow Air India to win a larger share of regional international traffic and the domestic market, setting up a battle on both fronts with IndiGo.
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