Air India to buy 220 Boeing planes for $34 billion

Air India to buy 220 Boeing planes for $34 billion: Joe Biden, the president of the United States, praised Air India for choosing to buy more than 220 aircraft from Boeing and referred to the decision as “an historic agreement between Tata-owned airlines and Boeing.” This purchase will support over one million American jobs across 44 states, and many will not require a four-year college degree. This announcement also reflects the strength of US-India economic partnership,” Joe Biden said in an official statement.

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More About The Tata and Boeing Deal:

Air India will purchase as many as 220 planes from Boeing for USD 34 billion, with an option to buy 70 more aircraft that could take the total transaction value to USD 45.9 billion.

The Air India order is Boeing’s third biggest sale ever in dollar value and second in terms of number of planes.

Air India’s Push Towards a Greater Scale:

Air India has agreed to buy 250 jets from Airbus, part of a mammoth deal for 470 planes that is also expected to include 220 Boeing jets, as the airline heralds a decades-long transformation under its new owners, Tata Group. The combined 470-jet order is the largest by a single airline. Coupled with roughly 25 more Airbus jets that Air India plans to lease to meet its immediate needs, it touches the 500-mark.