Air India in fresh talks with Airbus, Boeing to buy up to 300 aircraft amid global expansion push: Report
According to sources familiar with the matter cited by the news agency, Air India is reportedly in talks with Airbus and Boeing to buy wider-body jets and has expanded its planned purchases to 300 aircraft. Reuters.
Sources told Reuters It is stated that the ongoing negotiations currently include 80 to 100 wide-body jets. This comes in addition to previously reported talks for 200 narrow-body jets and 25-30 wide-body aircraft.
Adding more wide-body jets to its fleet will allow Air India to strengthen its international network and replace aging aircraft.
In June, Reuters Air India is reportedly in talks with Airbus and Boeing for a major order of new aircraft, including up to 200 extra narrow-body aircraft, in addition to a massive deal in 2023. This was based on earlier discussions involving 25-30 wide-body jets. Reuters It was reported in March.
The airline is now looking at up to 300 more aircraft as part of its latest plans to rebrand as a modern, global carrier, people familiar with the matter said.
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It was not immediately clear how much of those might involve options rather than firm orders.
The ongoing talks come as Air India struggles to recover from a Boeing 787 crash in Gujarat’s Ahmedabad in June that killed 260 people.
Air India’s AIFS gets $215 million loan from Bank of India StanChart
Standard Chartered and Bank of India on Wednesday announced a $215 million term loan to AI Fleet Services IFSC Limited (AIFS), Air India’s aircraft leasing subsidiary based in Gujarat Gift City.
AIFS entered into a seven-year amortization term loan facility to finance six Boeing 777-300 ER aircraft. In the statement, it was stated that the plane would be leased to Air India.
Air India is currently undergoing a fleet renewal and expansion program following privatization in January 2022.
Standard Chartered played a leading role as the structuring bank. Bank of India and Standard Chartered jointly undertook the transaction as authorized lead arranger and bookrunner, the statement said.
“This financing highlights our long-standing expertise in aviation finance and our commitment to supporting India’s aviation sector, which continues its remarkable growth trajectory,” said Abhishek Pandey, Global Head of Transport Finance at Standard Chartered.
Sanjay Sharma, President and Chief Financial Officer, Air India AIFS, said, “Air India has embarked on a five-year transformation journey by ordering 570 aircraft and GIFT City will be important in financing these aircraft. With this commercial aircraft financing transaction through Standard Chartered and Bank of India, we see GIFT City further mature and at a time when Indian aviation is making progress.” “We see it emerging as an aircraft leasing and financing option for airlines,” he said.
