Feb 25, 2022 10:58 am
Executives from Tata Group and Boeing Co and Airbus SE have met recently to discuss future plane orders for Air India, two people familiar with the matter said.
Air India operates with a mix fleets of over 140 Airbus and Boeing planes, and industry executives estimate it would cost Tata more than $1 billion to refurbish the aging aircraft.
Tata last month acquired the ownership of state-run carrier Air India after nearly 70 years in a $2.4 billion equity-and-debt deal. While the airline has lucrative landing slots, the group faces an uphill task to upgrade Air India’s aging fleet and turn around its financials and service levels.
Tata, operates two other airlines: Vistara, in a joint venture with Singapore Airlines, and AirAsia India, which it operates in partnership with AirAsia Group.
Bloomberg reported on Thursday that Tata had begun preliminary discussions with the planemakers and lessors for jets including Airbus A350-900s and Boeing 787-9 Dreamliners, citing people familiar with the matter.