(Combining related stories)
Tata Group-owned Air India on Tuesday said it will buy a total of 470 wide-body and narrow-body planes from Airbus and Boeing, and the total deal value is estimated to be USD 80 billion (around Rs 6.40 lakh crore) as the airline expands its operations.
“The order comprises 40 Airbus A350s, 20 Boeing 787s and 10 Boeing 777-9s wide-body aircraft, as well as 210 Airbus A320/321 Neos and 190 Boeing 737 MAX single-aisle aircraft. The A350 aircraft will be powered by Rolls-Royce engines, and the B777/787s by engines from GE Aerospace. All single-aisle aircraft will be powered by engines from CFM International,” the airline said in a statement.
The “landmark” Air India-Boeing deal will create up to 1 million jobs across 44 states in the US, President Joe Biden told Prime Minister Narendra Modi in a call on Tuesday.
While announcing the Boeing-Air India deal on Tuesday, Biden asserted that together with Prime Minister Modi, he was looking forward to deepen the ties between India and the US.
As per an announcement from the White House, Boeing and Air India have reached an agreement under which the airline will purchase 190 B737 MAX, 20 B787, and 10 B777X for a total of 220 firm order valued at USD 34 billion at list price.
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The deal will also include customer options for an additional 50 Boeing 737 MAX and 20 Boeing 787, totalling 290 airplanes for a total of USD 45.9 billion at list price.
Biden spoke with Modi of India to discuss the “landmark” agreement.
This purchase will support over one million American jobs across 44 states, and many will not require a four-year college degree, Biden said in the call.
The Air India order is Boeing’s third biggest sale ever in dollar value and second in terms of number of planes.
During the call, the two leaders also reaffirmed the strength of the US-India relationship and committed to continue working together and in groups like the Quad to advance economic growth for our two countries and expand cooperation on our shared priorities.
Read more: India, US launch iCET to expand strategic technology partnership and defense industrial cooperation
This announcement follows the inaugural launch of the US-India initiative on Critical and Emerging Technology (iCET) last month.
The initiative is aimed at expanding the strategic technology partnership and defence industrial cooperation between the governments, businesses, and universities of the two countries.
Biden and Modi announced the iCET in May 2022.
