Air India orders a record 470 Boeing and Airbus aircrafts

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Air India orders a record 470 Boeing and Airbus aircrafts
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Air India has placed a record order for nearly 500 new commercial jetliners from Boeing and Airbus.

The new Airbus A320neo takes off for its first test flight at Toulouse-Blagnac airport in southwestern France on Sept. 25, 2014. The owner of Air India announced a deal Tuesday to buy 250 Airbus jets, including A350 wide-body planes and A320neo single-aisle planes in a deal worth billions of dollars.The new Airbus A320neo takes off for its first test flight at Toulouse-Blagnac airport in southwestern France on Sept. 25, 2014.

The order for Boeing airplanes includes 190 737 Max jets, 20 Boeing 787 Dreamliners and 10 widebody 777X planes for a total of 220 aircraft. If Air India takes final delivery of all those planes, it would cost the airline $34 billion at list price. Airlines, however, rarely pay list price and usually negotiate steep discounts, especially when ordering such a large number of aircraft.

President Biden calls the order for Boeing jetliners,"historic," adding that it will support a total of 1.47 million direct and indirect jobs across country, with a total economic impact of $70 billion.

Tata Sons, India's oldest and largest conglomerate, regained ownership of the debt-laden national carrier last year.pioneered commercial aviation in India when it launched the airline in 1932. It was taken over by the government in 1953.

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