Air India signed the world's biggest aviation deal, understand the full story of the 5.5 lakh crore agreement in 5 points
Air India has ordered 470 new aircraft. It will have 400 aircraft narrow body, which will be used for domestic air travelers. Experts believe that in the coming days there will be a huge reduction in air fares and the experience of air travelers will be of world class.
Ever since the Tata Group took over the reins of Air India, its days have changed. Tata's plan is to make Air India the best airline in the world. Taking a big step in this direction, the airline has made the world's biggest aviation deal (Air India biggest deal in history). Under this deal, Maharaja will purchase 470 new aircraft. This purchase will be done with Boeing and Airbus. 250 aircraft will be purchased from Airbus and 220 from Boeing, whose value is about 70 billion dollars i.e. more than 5.5 lakh crore rupees. Earlier, in the year 2011, the largest sale of 460 aircraft was done by American Airlines in the aviation sector.
Air India buys new aircraft for the first time since 2005
Now the question arises that how such a big deal of Air India will benefit the airline, as well as how the country's aviation sector will change. Before knowing this, let us tell you that this is the first time after the year 2005, when Air India has ordered a new aircraft. It is believed that by the end of the year 2023, 31 aircraft will join the Air India fleet. Air India currently has a total of 220 aircraft. It has 172 narrow body aircraft, 48 wide body aircraft. IndiGo Airline currently has the largest number of aircraft in the country. Its fleet is of 300 aircraft.
Air India's market share may increase up to 50% this fiscal
Reports believe that if 50 new aircraft are included in the Air India fleet by the end of the financial year 2023-24, then its capacity will increase by 50 percent. Presently Indigo Airline is the market leader in domestic air service. All IndiGo flights are domestic. Its market share is 54.9 percent, while Air India Group's market share is close to 26 percent.
How has been the growth of aviation sector in India since 2014?
The growth of aviation sector in India is happening very fast. When PM Modi came to power in the year 2014, a total of 70 airports were operational in the country. In 2022, this number has increased to 137. It is estimated to increase to 220 in 2030. The number of air passengers has increased at a faster rate than this. In the year 2014, the total number of air passengers in the country was 6.73 crore. In 2020, the number of annual passengers increased to 12.23 crore. By 2030, the figure of 85 crore air passengers is expected to reach annually.
Revolution will come in domestic air service
If we look at Air India's 470 aircraft order details, a total of 400 narrow body aircraft will be purchased. 70 wide body aircraft will be purchased. It is clear from this that there will be a new revolution in the domestic aviation sector and there will be a decrease in the reign of Indigo. The tourism sector is expected to get a big boost from aviation in the coming days.
Air travelers will get the benefit of cheap fares
Talking about the benefits of the customers i.e. air travelers, experts believe that due to increase in competition, there will be a reduction in fares and air travelers will get its direct benefit. At present the rate of ATF is high, rupee is weak against dollar, due to which air fares are on the higher side. It will decline in the coming times. Apart from this, air service will also start for new destinations. Where air services are already available, service quality will improve.
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