Air India in talks with Airbus, Boeing to purchase airplanes, states CEO – Reuters

NEW DELHI, Nov 19 (Reuters) – Tata Group-owned Air India remains in talks with Boeing and Airbus (AIR.PA) about purchasing brand-new airplane and is satisfying its instant requirements by renting aircrafts and fixing grounded airplane, the airline company’s president stated on Saturday. The autos-to-steel corporation, which finished its purchase of Air India in January, deals with a difficult task to update an aging fleet, reverse the business’s financials and enhance service levels, market experts state. “We remain in deep conversation with Boeing, Airbus and engine makers for a historical order of the current generation airplane that will power Air India’s medium- and long-lasting development,” Campbell Wilson, the airline company’s president, stated at a Tata business occasion in Mumbai. Wilson stated Air India prepared to broaden its fleet and worldwide network, intending to increase its market share to 30% on both domestic and worldwide paths over the next 5 years. At present, Air India has a domestic market share of about 10% and a global market share of around 12%, according to market quotes. Air India stated in September it would rent 30 Boeing and Airbus airplanes, broadening its fleet by more than 25% as part of the drive to enhance market share and to enhance service levels. Market sources stated in July that Air India was moving closer to a choice on an order worth $50 billion at market price to be divided in between Airbus and Boeing. The sources stated at the time that both planemakers were making a “last push” with the order set to consist of as much as 70 wide-body jets consisting of Airbus A350 s and Boeing 787 s and 777 s, and as much as 300 narrowbodies. Reporting by Aditi Shah and Manoj Kumar Editing by Helen Popper Our Standards: The Thomson Reuters Trust Principles.
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