Air India Close To Order Upto 500 Jets From Airbus, Boeing

Tata group-backed Air India is reportedly close to placing around 500 jetliners from Airbus SE EADSY EADSF and Boeing Co BA to be delivered over the next decade.
The order includes around 400 narrow-body jets and 100 or more wide-bodies, Reuters reported, as finishing touches are placed on the mammoth deal in the coming days.
Also see: US Lawmakers Decide Fate Of Boeing's 737 Max 7, Max 10 Regulatory Exemption.
This deal could top $100 billion, overshadowing a combined order for 460 Airbus and Boeing jets from American Airlines Group Inc AAL over ten years ago.
The report added that the deal would allow Airbus to secure a home for some A350 production slots initially earmarked for Russia's Aeroflot and now left open because of war-related sanctions against Moscow.
Founded by JRD Tata in 1932, Air India was nationalized in 1953. Tata regained control in January and has since been working to revive its reputation as a world-class airline.
Price Action: BA shares closed at $179.63 on Friday.