Air-India to introduce non-stop flights to New York, Chicago
The deliveries are likely to commence from later part of 2006, according to Air-India sources.
Financing arrangements for the acquisition of these aircraft will be tied up to meet the predelivery commitments upto 15 percent of the aircraft.
A letter of intent will be placed on the Boeing company and the engine manufacturers followed by the signing of the purchase agreement once the government approval is achieved, the sources said.
Pending acquisition of new aircraft, Air-India, which has a fleet of 42 aircraft at present, has been taking aircraft on dry lease to ensure that it continues to get share of fast growing market.
Air-India has inducted 24 aircraft on dry lease as of date including three for its subsidiary, Air India Express.
Public Investment Board on Friday recommended acquisition of 50 new long range wide bodied state-of-the-art technology aircraft for Air India and 18 B 737-800W aircraft for Air India Charters ltd (AICL) on a not to exceed cost basis to the Cabinet Committee on Economic Affairs for.