Air India, the national carrier of India, has unveiled a historic order for 470 aircraft, making it one of the largest orders in the history of the aviation industry. The Union Minister for Civil Aviation, Jyotiraditya Scindia, announced the announcement on February 15, 2023. The order comprises 290 single-aisle and 180 wide-body planes and is valued at around $60 billion. The order is set to create significant job opportunities and drive the growth of the Indian aviation industry.
Significance of the Order For The Indian Aviation Industry
The order for 470 aircraft is a significant step toward the growth of the Indian aviation industry, which the COVID-19 pandemic has severely impacted. The pandemic led to a sharp decline in air travel, causing airlines to cancel flights and ground their fleets. However, with the rollout of vaccines and the easing of travel restrictions, the demand for air travel is expected to rebound, leading to a surge in demand for new aircraft.
The order by Air India will not only help to meet this demand but will also create a multiplier effect on the Indian economy. The order is expected to generate more than 100,000 direct and indirect jobs, including manufacturing, maintenance, and aviation-related services. This will provide a much-needed boost to the Indian economy, which has been struggling to recover from the impact of the pandemic.
Get Ready for an Air India Transformation!
The order will also help position India as a global manufacturing hub for the aviation industry. The Indian government has been pushing for the country to become a major player in the global aerospace industry, and the order by Air India is a step in that direction. It will help to attract more investment in the Indian aviation sector and create opportunities for local suppliers to participate in the global supply chain.
The new aircraft will also help to improve the passenger experience with the latest technology and comfort features. This will be a major selling point for Air India as it seeks to attract more customers and increase its market share. The wide-body planes will also help to expand the airline’s international network and provide more options for passengers traveling to and from India.