Air India to fund $70 bn plane order with cash, equity amid overseas push

Air India said on Monday it plans to fund its $70 billion order for a record 470 aircraft with internal cash, equity and through sale-and-leasebacks, as the airline seeks to rapidly expand its presence in international markets.

Tata Group-owned Air India said on Feb 14 it would buy 220 planes from Boeing and 250 from Airbus in a deal that has eclipsed previous records for an order made by a single carrier.

“So the principal driver (for the plane order) was really recognizing the opportunity for Indian aviation and putting in place the investment in the capacity of the aircraft in order to realize that for India’s benefit,” Air India Chief Executive Officer Campbell Wilson said on Monday.