New flights?
Boeing Co and Airbus SE held talks with Tata Group in recent weeks to discuss future plane orders for Air India, a media report said. Tata had regained ownership of Air India after nearly 70 years in a $2.4 billion equity-and-debt deal. Air India has lucrative landing slots.
Uphill task to upgrade
But, it is an uphill task to upgrade its ageing fleet and turn around its financials and service levels. Air India has a mixed fleet of over 140 Airbus and Boeing planes. Industry executives estimate that it would cost Tata more than $1 billion to refurbish the ageing aircraft. The airline, with its maharajah mascot, was once renowned for its lavishly decorated planes and stellar service.
