Boeing gets boost from $34 billion order, third-largest sale of all time

Feb 14, 2023, 9:57 AM | Updated: 10:17 am
Boeing 737...
Boeing 737 MAX is one category of aircraft sold to Air India. (Photo by VCG/VCG via Getty Images)
(Photo by VCG/VCG via Getty Images)

The largest Boeing order ever in South Asia is taking place with Air India. The deal is valued at $34 billion. It marks Boeing’s third-largest sale of all time and is a historic milestone in the aerospace company’s nearly 90-year partnership with the carrier.

Boeing and Air India announced Tuesday that the carrier will purchase 190 737 MAX, 20 787 Dreamliner, and 10 777X airplanes. The deal also includes aviation services and options to purchase more 737 MAXs and 787-9s.

“Air India’s selection of Boeing’s family of passenger jets shows their confidence in our products and services in the world’s fastest-growing aviation market, and their decision will support engineering and manufacturing jobs at Boeing factories in Washington stateSouth Carolina and across our supply base,” said Stan Deal, president, and CEO of Boeing Commercial Airplanes. “With the industry-leading fuel efficiency of the 737 MAX, 787 Dreamliner, and 777X, Air India is well positioned to achieve its expansion plans and become a world-class global airline with an Indian heart.”

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Air India is the country’s largest international airline and second-largest domestic carrier. It also contracted with Boeing Global Services for lifecycle support services, including digital solutions, spare parts, and landing gear exchange programs, pilot and maintenance technician training, aircraft modifications, and other services.

The 737 MAX will assist in reducing fuel use and emissions by 20% compared to the airplanes it replaces.

In information provided by Beoing:

The 737-8, seating 162 to 210 passengers, depending on configuration, and with a range of 3,500 nautical miles, is the market’s most versatile single-aisle airplane, capable of operating profitably on short- and medium-haul routes.

The 737-10, the largest airplane in the 737 MAX family, offers the best per-seat economics of any single-aisle commercial jet, seating 188 to 230 passengers, depending on configuration with a range of 3,100 nautical miles.

Air India already has 27 787-8s. The larger 787-9 will increase capacity, greater range, and 25% better fuel efficiency compared to earlier generation jets.

The 777-9 will be the largest airplane in Air India’s fleet, enabling it to fly passengers non-stop to almost any long-haul destination.

The Boeing “purchase will support over 1 million American jobs across 44 states, and many will not require a four-year college degree,” President Joe Biden said. “This announcement also reflects the strength of the U.S.-India economic partnership.”

“The order’s massive, but a lot of it is a long overdue replacement. Air India is way behind in modernizing their fleet,” said Brendan Sobie, a Singapore-based independent aviation analyst.

Air India is also buying 250 passenger jets from European plane manufacturer Airbus. Airbus did not disclose the financial terms of the deal, which could be worth tens of billions of dollars.

Associated Press and Boeing contributed to this story

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Boeing gets boost from $34 billion order, third-largest sale of all time