India’s flag carrier airline, Air India to buy 500 jets

The recent Covid-19 pandemic dented the earnings of all sectors and hence airlines too suffered a major setback. In lieu of recovering from this grave situation, the Indian Airline, Air India is on its way to purchase around 500 aircraft, says the Lessor. Steven F. Udvar-Házy owned Air Lease Corporation is an aircraft leasing company that would be delivering the same to the TATA owned Indian Airline, Air India.

Steven F. Udvar-Házy, the executive chairman of Air Lease Corporation reports to Times of India, “We have this 500-aircraft order coming out of India, which is going to be about 400 narrow-body aircraft, probably a mi of (Airbus) A320neos, A321neos and (Boeing) 737 MAXs, and 100 wide bodies which will include (Boeing) 787s, 777X,  potentially some 777 freighters and Airbus 350s .”

“As a result of this recovery, there is now more momentum for large orders from airlines who have sort of sat back and watched the movie, and now they’re seeing there’s going to be a positive trend,” Steven Udvar-Hazy, executive chairman of AirLease Corp, told the Airline Economics conference.

In wake of the current situation, several airlines have been taking steps in the direction in order to revive their businesses, and hence there is a lot of instability in the numbers of orders being received and canceled by several airlines. Steven F. Udvar-Házy reports that the largest model of Boeing is facing significant delays in its production and airline companies are very likely to come back to the ordering of medium-sized wide-body jets.