Air India is expected to announce new aircraft purchase deals with Airbus and Boeing as early as next week. Reuters
Air India is expected to announce new aircraft purchase deals with Airbus and Boeing as early as next week. Reuters
Air India is expected to announce new aircraft purchase deals with Airbus and Boeing as early as next week. Reuters
Air India is expected to announce new aircraft purchase deals with Airbus and Boeing as early as next week. Reuters

Air India close to signing record aircraft deal amid aggressive expansion


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Air India has signed agreements with Airbus and Boeing for what could become the largest purchase of jetliners in commercial aviation history, as the carrier seeks to reinvent itself with a fuel-efficient fleet that can take on local low-cost rivals and powerful Gulf airlines such as Emirates.

The airline has agreed on the outlines of the accord with the two plane makers and may formally announce the deal as early as next week, according to people familiar with the talks, who asked not to be identified because the negotiations are confidential.

Airbus stands to win about 250 orders and commitments in total, made up of 210 of the A320 single-aisle family models and 40 A350s wide-bodies, the people said. Boeing has secured about 290 possible purchases, with 190 737 Max aircraft and the option for 50 more, as well as 20 787 Dreamliners and the same number as a possible top-up, alongside 10 777x aircraft, the people said.

The final tally could still change because of the complicated structure of the deal, which is made up of firm orders, memorandums of understanding and letters of intent, both of which are less firm than an outright purchase accord, the people said.

Officials for Airbus, Boeing and Air India declined to comment.

Air India and its parent, Tata Group, spent months negotiating the massive transaction, which should allow the carrier to upgrade service and reliability while lowering fuel costs.

It’s also an attempt for the storied airline, founded under Tata in the 1930s, to win back traffic from Gulf rivals such as Emirates or Qatar Airways, which have built a business model ferrying passengers from countries including India to the US and Europe via their huge hubs in Dubai and Doha.

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Rating: 4/5

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Name: Dr Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

We Weren’t Supposed to Survive But We Did

We weren’t supposed to survive but we did.      
We weren’t supposed to remember but we did.              
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heading

Iran has sent five planeloads of food to Qatar, which is suffering shortages amid a regional blockade.

A number of nations, including Iran's major rival Saudi Arabia, last week cut ties with Qatar, accusing it of funding terrorism, charges it denies.

The land border with Saudi Arabia, through which 40% of Qatar's food comes, has been closed.

Meanwhile, mediators Kuwait said that Qatar was ready to listen to the "qualms" of its neighbours.

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European arms

Known EU weapons transfers to Ukraine since the war began: Germany 1,000 anti-tank weapons and 500 Stinger surface-to-air missiles. Luxembourg 100 NLAW anti-tank weapons, jeeps and 15 military tents as well as air transport capacity. Belgium 2,000 machine guns, 3,800 tons of fuel. Netherlands 200 Stinger missiles. Poland 100 mortars, 8 drones, Javelin anti-tank weapons, Grot assault rifles, munitions. Slovakia 12,000 pieces of artillery ammunition, 10 million litres of fuel, 2.4 million litres of aviation fuel and 2 Bozena de-mining systems. Estonia Javelin anti-tank weapons.  Latvia Stinger surface to air missiles. Czech Republic machine guns, assault rifles, other light weapons and ammunition worth $8.57 million.

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Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

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Updated: February 12, 2023, 4:00 AM