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Air India set to order nearly 500 jets, says plane lessor

Air India set to order nearly 500 jets, says plane lessor

Air India did not immediately respond to a request for comment.

Dublin:

Air India is expected to order around 500 planes as the airline industry’s recovery takes hold after the pandemic, one of the world’s leading aircraft lessors said on Monday.

“Because of this recovery, there’s now more momentum for big orders from airlines who kind of sat down and watched the movie, and now they see there’s going to be a positive trend,” said said Steven Udvar-Hazy, director and chairman of AirLease Corp, told the Airline Economics conference.

“We have this order for 500 planes from India, which will be around 400 narrow-body planes, probably a mix of (Airbus) A320neos, A321neos and (Boeing) 737 MAX, and 100 jumbo jets which will include (Boeing ) 787, 777X, potentially some 777 freighters and (Airbus) A350.”

The comments are the first public indication of the scale of the planned order after Reuters reported in December that Air India was set to order up to 500 jets as it carves out a revival under conglomerate Tata Group .

Industry sources say finalizing the proposed deal depends on ongoing negotiations with engine manufacturers.

Air India did not immediately respond to a request for comment. Airbus and Boeing had no immediate comment.

United Airlines recently ordered 200 large and small planes. Last year, China placed a bulk order for Airbus planes.

“We expect a number of airlines to place large orders and again most of those orders will be for replacement,” Udvar-Hazy said.

He predicted that airlines would increasingly turn to mid-size jumbo jets after significant delays in the development of Boeing’s largest new model, the 400-seat 777X – currently in service at five years old and potentially in service. increase.

“We expect both OEMs to be under pressure over the next two years to increase production rates, not necessarily to the levels they were in 2018, but certainly well above current production.”

(Except for the title, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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