According to insiders in the industry, the potential agreement’s completion rests on ongoing talks with engine manufacturers.
via Reuters According to one of the top aircraft lessors in the globe, as the airline sector begins to recover from the pandemic, Air India is planning to acquire about 500 aircraft.
According to Steven Udvar-Hazy, executive chairman of AirLease Corp (AL.N), “as a result of this recovery, there is now more impetus for significant orders from airlines who have sort of sat back and watched the movie, and now they’re recognising there’s going to be a positive trend.”
United Airlines recently ordered 200 large and small aircraft. China last year placed a block order for Airbus jets.
“We have this 500-aircraft order coming out of India, and it’s going to be about 400 narrow-body aircraft, probably a mix of (Airbus) A320neos, A321neos, and (Boeing) 737 MAXs, and 100 wide-bodies, which will include (Boeing) 787s, 777X, possibly some 777 freighters, and (Airbus) A350s,” said the spokesperson.
After Reuters reported in December that Air India was close to acquiring as many as 500 jets as it carved out a revival under the Tata Group conglomerate, the comments represent the first public indication of the scope of the anticipated order.
According to insiders in the industry, the potential agreement’s completion rests on ongoing talks with engine manufacturers. A request for comment from Air India was not immediately complied with. Boeing and Airbus were unable to comment right away.
According to Udvar-Hazy, “We do anticipate that a number of airlines will place sizable orders, and again, the majority of these orders will be for replacement.”
After major delays in the construction of Boeing’s largest new model, the 400-seat 777X, which are now running at five years and may rise further, he predicted airlines would progressively move back toward medium-sized wide-body jets.
In the upcoming years, “we anticipate that both OEMs will face pressure to expand production rates, if not necessarily to the levels they were in 2018, then certainly substantially above present production.”