Air India to invest big to acquire 68 new aircrafts

Air India to invest big to acquire 68 new aircrafts

State owned international airline company Air India is planning to spend Rs 35,000 crore to buy 68 new aircraft. This information was revealed by Air India Chairman Thulasidas as the company is preparing to take on the increasing competition provided by recently launched airline services in the country.

Air India is also planning to expand its network across the nation in addition to enhancing the frequency of flights in its existing schedule. They would also be grounding as many as 48 existing aircraft as the new planes join their fleet.

The airline company recorded 66 per cent growth in its passengers resulting in improved business with revenues touching Rs 52 crore in recent times. This has helped the company plan its expansion with newer planes and more flights to more destinations in the country.

Air India also has plans to expand their operations in the cargo exports market.