Air India signs 470 aircraft deal with Airbus, Boeing

Tags: Economy/Finance National News

Air IndiaWith 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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