Air India seals 'historic' deal to buy 500 new planes
Air India has sealed a jumbo deal for about 500 new planes worth more than $100 billion at list prices [1], in what could become the single largest order for aircraft in the country's history.
The Tata Group-led carrier has reportedly signed agreements with airplane manufacturers, the US-based Boeing and France-based Airbus , for a massive order of 220 aircraft that includes 190 of Boeing's 737 MAX narrowbody jets, 20 787 wide-bodies and 10 777Xs .
To finance the purchase, Air India plans to borrow Rs 18,000 crore from the State Bank of India and Bank of Baroda to refinance its existing debt.
