AI puts together ‘huge financing deal’ for new fleet: CEO

Air India has put together a ”huge financing deal” related to its new fleet in a remarkably quick time, according to its chief Campbell Wilson. On February 14, Air India announced a historic order for buying 470 aircraft, including 250 from Airbus and 220 from Boeing. Besides, there is an option to buy another 370 planes from the two plane makers. It was also the first time in more than 17 years that Air India, which was taken over by Tata Group from the government in January last year, placed orders for new planes. In his weekly message to the staff on Friday, Wilson said he wants to commend ”the commercial, strategic procurement, finance, treasury and legal teams for successfully putting together a huge financing deal related to our new fleet in remarkably quick time…it was another historic achievement for the new Air India”. Specific details could not be immediately ascertained. Wilson, in an interview with PTI last month, said that a lot of money is being invested in the airline.