Tata Sons-owned Air India has reportedly placed an order for 500 aircraft, one of the largest orders by an airline in modern aviation.
The order consists of 430 narrowbody and 70 widebody aircraft, which will be delivered to the Air India over the next seven to eight years.
Airbus has secured a major portion of the order with 240 A320 Neo and 40 A350 aircraft, while Boeing will provide 190 737 Max, 20 787, and 10 777x planes.
The estimated value of the order is $150 billion at list price, though large discounts are common in such purchases, reports Economic Times.
A formal announcement of the deal is expected next week, according to the ET report.
The deal with Airbus was finalised during a meeting attended by Tata Sons chairman N Chandrasekaran and Airbus Chief Commercial Officer Christian Scherer on Friday (10 February).
The deal with Boeing was signed on 29 January.
Air India has also signed deals with engine makers CFM International, Rolls Royce, and a joint venture between GE Aviation and Safran for the supply of engines.
Winning a narrowbody order in India would be a significant win for Boeing, as Airbus dominates the Indian market.
The new planes will enable Air India to serve short-haul destinations and expand its footprint across North America, Europe, and Australia.
Tata Sons is in the process of consolidating its aviation business, with Air Asia India and Air India Express merged into one low-cost unit and absorbing Vistara into Air India.
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.