A debt laden Air India put up for sale by the Indian government proved instrumental for bringing Indians home from across the globe during the pandemic. From the verge of collapse, it has bounced back with ambitions of becoming an leader in global aviation, after being acquired back by its original parent Tata. The carrier is propelled by a deal for 840 aircraft from Boeing and Airbus, which is also being hailed for its impact on India's aviation sector by the government.
Although the government had to sell Air India after failing to pay its dues, Aviation Minister Jyotiraditya Scindia called the record-breaking order a new dawn for the sector. The deal which is the biggest since a 460 aircraft order placed by American Airlines in 2011, speaks of Indian aviation's potential, according to the minister. He also mentioned that the growth rate for aviation in India, the sector's fastest growing market, stands at 10.5 per cent.
After getting 470 aircraft from Airbus and Boeing combined, Air India will have the option to buy another 370. Apart from this the Indian aviation sector already has close to 1,200 deliveries in the pipeline for domestic players. On the other hand, young airline Akasa is all set to place a massive order for narrow bodied aircraft, as it prepares to launch international flights by the end of the year.
With aircraft arriving for leading Indian carriers, Scindia expressed positivity about the idea of creating an international aviation hub in the country. Another big order will be coming from IndiGo, which controls more than half of the Indian aviation market, and posted a 1000 per cent jump in profit thanks to post-pandemic demand.
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Air India is also eyeing a stellar recovery to become a leading player in the sector, after Tata's emerging airline Vistara was merged with its predecessor.
