Air India plans major expansion with threefold increase in aircraft fleet, says CEO

Air India Chief Executive Officer Campbell Wilson on Tuesday announced that the airline is undergoing a significant overhaul, which includes the induction of new aircraft and refurbishment of older planes. As part of this effort, the airline intends to triple its existing fleet of 113 aircraft within the next few years.

The airline owned by the Tata Group, has announced plans to acquire an unprecedented 470 aircraft to bolster its fleet. To fund the $70 billion order, Air India intends to use internal cash, equity, and sale-and-leaseback arrangements.

Additionally, Air India plans to purchase 220 aircraft from Boeing and 250 from Airbus as part of its efforts to rebuild its fleet. The airline, which was once regarded as a world-class service in India, suffered from financial difficulties, an ageing fleet, and subpar service in the mid-2000s, causing damage to its reputation.