Air India signs 470 aircraft deal with Airbus, Boeing
Tags: Economy/Finance National News
With an aim to upgrade its fleet and expand its operations, Tata-owned Air India on 14 February confirmed an agreement to buy a total of 470 wide-body and narrow-body planes from Airbus and Boeing.
An overview of the news
Of the 470 new aircraft ordered by Air India, 250 are from Airbus and 220 from Boeing.
Prime Minister Narendra Modi has expressed confidence that India will emerge as the third largest global market in the aviation sector in the coming years.
This deal reflects the strength of the US-India economic partnership.
The Indian aviation sector will need more than 2,000 aircrafts in the next 15 years.
This historic deal shows strengthening of strategic partnership between India and France.
This deal will help in fulfilling the growing demands of the aircrafts.
Under the regional connectivity scheme-UDAN, the number of airports in the country has increased from 74 to 147 in the last eight years.
Remote parts of the country are being connected by air connectivity which has helped in socio-economic development.
About UDAN scheme
Ude Desh Ka Aam Nagrik (UDAN) was launched in 2016 as a Regional Connectivity Scheme (RCS) under the Ministry of Civil Aviation.
Its objective is to provide affordable, economically viable and profitable air travel on regional routes to the common man even in small towns.
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