Air India signed letter of intent to acquire 250 Airbus aircraft, including 40 wide-body & 210 narrow body planes in a mega deal which seeks to strengthen India-France ties.
‘India will become the third-largest aviation market… This deal (Air India-Airbus) is an important aspect of the India-France strategic relationship,’ PM Modi said of the deal.
Airbus CEO Guillaume Faury said of the deal, ‘We see India as strategic industrial and tech hub.’
Tata Sons Chief N Chandrasekaran, who was present at the meeting along with Chairman Emeritus Ratan Tata, said they were ‘committed to building a world class airline.’
The deal stands to be the largest aircraft purchase in commercial aviation history.