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☆ From Apple to Boeing, India is being put to the test as China manufacturing alternative
▼ + stars: | 2023-03-12 | by ( Vikram Barhat | ) www.cnbc.com time to read: +6 min

Bloomberg | Bloomberg | Getty ImagesThe ties between American companies and India as a manufacturing and supply chain partner are getting deeper. The Boeing deal is indicative of the wider trend among global manufacturers including Apple, Samsung and Nokia, to accelerate manufacturing in India. As far back as 2014 it launched the "Make in India" campaign to raise the profile of India as a global manufacturing hub and encourage multinational companies to produce in India. Boeing, Air India issues The partners have their internal issues to work through. That's on top of the hurdles foreign companies can expect to face in India's accleration as a manufacturing and supply chain partner.

NEW DELHI, March 10 (Reuters) - Boeing Co (BA.N) said on Friday it would set up a facility in India to convert 737 passenger planes into dedicated freighters to tap into regional and global demand for the service. The investment, which adds to the U.S. manufacturer's expansion into India on top of a record plane order by flag carrier Air India, comes despite a global economic slowdown that has weakened the global air cargo market. The International Air Transport Association (IATA) said global cargo demand in January fell almost 15% year-on-year. He did provide any details about when the facility would be set up or the size of the investment. The planned facility comes amid a push by Boeing to expand in India, including a $24 million investment to set up a logistics centre for aircraft parts.

☆ American Airlines passenger accused of urinating on another flyer during a New York-Delhi flight, report says
▼ + stars: | 2023-03-05 | by ( Isobel Van Hagen | ) www.businessinsider.com time to read: +2 min

A student traveling on an American Airlines flight was accused of urinating on another passenger. He is banned from traveling on American Airlines, the airline later said. American Airlines did not immediately respond to Insider's request for comment. Delhi Police said legal action is being taken on the basis of a complaint from American Airlines, per PTI. Wells Fargo fired an employee who was also accused of urinating on a fellow Air India passenger mid-flight, Insider reported.

IndiGo, owned by InterGlobe Aviation Ltd (INGL.NS), is also comparing the A320neo with the Boeing 737 MAX as it weighs a major new order for narrow-body jets, they added. The split between wide- and narrow-body jets was not immediately clear. An IndiGo representative told Reuters the airline is constantly in talks with manufacturers as it plans its next phase of growth. IndiGo, which counts a 55% share of the domestic market, is widely expected to maintain Airbus as its supplier of narrow-body jets to squeeze out further economies of scale. Industry publication CAPA reported last month that IndiGo was looking at around 500 jets as Air India closed its own deal.

☆ Air India's order for 470 jets at list price of $70 bln
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +1 min

NEW DELHI, Feb 27 (Reuters) - Tata group-owned Air India's order for a record 470 aircraft from Airbus (AIR.PA) and Boeing Co (BA.N) will be at a list price of $70 billion, Chief Executive Campbell Wilson said on Monday, as the airline seeks opportunities to expand in long haul international. Air India had, earlier this month, announced provisional deals for 220 planes from Boeing and 250 from Airbus in an order that would eclipse previous records for an order by a single carrier. The airline plans to fund the order with a combination of resources, including internal cash flow, shareholder equity and sale-and-leaseback of aircraft, Wilson told reporters at a press conference. Air India, once considered a world-class airline in India, saw its image tarnish in the mid-2000s due to financial troubles, an ageing fleet and poor service. "Air India has embarked on probably the greatest transformation in aviation history," Wilson added.

☆ Yellen says 'absolutely necessary' for G20 to condemn war in Ukraine
▼ + stars: | 2023-02-25 | by ( David Lawder | ) www.reuters.com time to read: +2 min

BENGALURU, Feb 25 (Reuters) - U.S. Treasury Secretary Janet Yellen told Reuters that a strong statement condemning Russia's war in Ukraine was "absolutely necessary" for a communique from the G20 finance leaders' meeting in India concluding on Saturday. Asked whether there would be no communique from the G20 finance ministers and central bank governors meeting without such a statement, Yellen said negotiations were continuing. We've had it in the past, in Bali and it's something that I think is absolutely necessary," Yellen said. G20 chair India is pressing the meeting to avoid using the word "war" in any communique, G20 officials have told Reuters. In Bali, the G20 leaders issued a statement that read: "Most members strongly condemned the war in Ukraine," signaling that Russia, a member of G20, had opposed the wording.

☆ G20 chair India says most members condemn Ukraine war
▼ + stars: | 2023-02-25 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Feb 25 (Reuters) - G20 chair India on Saturday said most members of the bloc "strongly condemned" the war in Ukraine and reiterated their positions demanding Russia's withdrawal from Ukraine. In a statement at the end of financial leaders' meet near Bengaluru, India said the statement condemning Russia's war was endorsed by all members except Russia and China. "The peaceful resolution of conflicts, efforts to address crises, as well as diplomacy and dialogue, are vital. Today’s era must not be of war," the statement said. Reporting by Shivam Patel in New Delhi; Editing by Krishna N. DasOur Standards: The Thomson Reuters Trust Principles.

☆ India Signals Its Arrival as a Force in Aviation
▼ + stars: | 2023-02-20 | by ( Megha Mandavia | ) www.wsj.com time to read: 1 min

Newly privatized Air India is making up for lost time. A turnaround of India’s flag carrier Air India Ltd. could place the country on the global aviation map. The beleaguered airline just kick-started the process with a historic aircraft order. Last week, Air India ordered 470 jets from aircraft giants Boeing Co. and Airbus, marking the largest deal for commercial aircraft in aviation history. The airline also has an option of ordering an additional 370 planes in the future.

☆ India's Akasa to place large plane order in 2023, eyes international growth
▼ + stars: | 2023-02-16 | by ( Aditi Shah | ) www.reuters.com time to read: +2 min

NEW DELHI, Feb 16 (Reuters) - India's Akasa Air will place a "substantially" large order for new narrowbody jets this year, as the start-up budget airline looks to capitalise on booming demand at home and begin international flights, its chief executive told Reuters. The 200-day-old airline has taken delivery of 17 Boeing (BA.N) 737 MAX planes out of a total order of 72 jets to be delivered by March 2027. The new order will be for narrowbody planes, said Akasa's founder, a former chief executive of now-grounded, bankrupt full-service carrier Jet Airways (JET.NS). Indian airlines are forecast to order 1,500 to 1,700 planes over the next couple of years, according to consultancy CAPA India, including a likely 500 plane order from Akasa rival IndiGo (INGL.NS), the country's biggest airline. "The demand in India as a whole is going to continue to grow and grow and grow."

☆ Airbus targets 720 deliveries in 2023
▼ + stars: | 2023-02-16 | by ( Tim Hepher | ) www.reuters.com time to read: +3 min

Industry sources have said Airbus is currently producing 45 of the workhorse jets a month. Revenues rose 13% to 58.763 billion euros, buoyed by higher deliveries compared to the previous year and a strong dollar. Industry sources had previously said A350 output was scheduled to remain steady at 6 a month throughout 2024 and 2025, up from 5.6 a month in 2023. Airbus' net cash rose to 9.4 billion euros, closing in on a threshold previously identified for potential share buybacks. Faury told investors in September he would discuss buybacks with the board "as soon as we hit the 10 billion euros mark."

☆ Air India has options to buy 370 more jets after mammoth order
▼ + stars: | 2023-02-16 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Feb 16 (Reuters) - Air India has options and purchase rights to buy 370 more aircraft from Airbus and Boeing over the next decade, an company executive said in a recent LinkedIn post, days after the carrier unveiled a record order for 470 jets. "The order comprises of 470 firm aircraft, 370 options and purchase rights to be procured from Airbus and Boeing over the next decade," said Nipun Aggarwal, chief commercial and transformation officer at Air India, wrote in a post late Wednesday. The firm order comprises 220 Boeing (BA.N) planes and 250 Airbus (AIR.PA) aircraft, while the options can be converted to firm orders at a later date. Aggarwal also said Air India had signed long-term engine maintenance contracts with CFM International (CFM), Rolls-Royce (RR.L) and GE Aerospace (GE.N). Aggarwal said the aspiration with this order is to connect India "non-stop" to every major city in the world and shows the "tremendous economic potential" unleashed by the privatisation of Air India.

☆ Premarket stocks: The job market is making traders' heads explode
▼ + stars: | 2023-02-15 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —The labor market ballooned in January when the US economy added an astonishing 517,000 jobs, blowing past Wall Street’s expectations. “It’s tough to say that… Some of those people making those layoffs are our clients.”Alaska Air Group noted a smaller number of tech workers and tech companies using their airline. In San Francisco, apartment rents have fallen and tech layoffs have further weakened the housing market. Manufacturing layoffs: While tech layoffs may not be a leading recession indicator, a decrease in manufacturing hiring could be an ominous sign of things to come. What’s next: Investors looking for clarity on a confusing labor market are unlikely to find it in the frequently revised, high-frequency weekly jobless claims data on Thursday.

For airlines, sale-and-leasebacks have been a popular way to generate liquidity and ease balance sheets. They then aim to sell them at a profit to lessors at the expense of agreeing to pay a rent. "It's a cheap and often tax-efficient way for the airline to raise finance," said an aircraft finance source. "Lessors are already queuing up to do business with Air India. Some lessors say it is not worth it after new money poured into aviation looking for returns when interest rates were low.

☆ Air India Places Airbus Order in First Half of Biggest-Ever Aircraft Deal
▼ + stars: | 2023-02-14 | by ( Benjamin Katz | ) www.wsj.com time to read: 1 min

Air India is seeking to reinvent itself as a rival the world’s biggest airlines. Air India Ltd. ordered 250 jets from Airbus SE in what is expected to form part of the largest deal for commercial aircraft in aviation history. The airline has agreed to purchase 210 Airbus narrow-body jets and 40 of the plane maker’s largest airliner, the A350 wide body, as it seeks to reinvent itself as a rival the world’s biggest airlines.

☆ Airbus Plans to Boost Production of Biggest Jets Amid Rebounding Demand
▼ + stars: | 2023-02-14 | by ( Benjamin Katz | ) www.wsj.com time to read: 1 min

LONDON— Airbus SE , buoyed by its latest deal to sell wide-bodies to Air India Ltd., is planning to boost production rates of its two biggest models as it tries to capitalize on resurgent demand for long-haul travel, according to people familiar with the matter. The European plane maker is planning to increase its so-called build rate for both of its currently produced wide-body aircraft, the A350 and the A330neo, according to these people. An announcement could come as early as this week, the people said, cautioning that a decision has yet to be finalized.

☆ Boeing, Airbus Sell 470 Planes to Air India in Record Deal
▼ + stars: | 2023-02-14 | by ( Benjamin Katz | Doug Cameron | ) www.wsj.com time to read: 1 min

Air India Ltd. ordered 470 jets from Boeing Co. and Airbus SE , marking the largest deal for commercial aircraft in aviation history and coming as airlines scramble for jets to meet surging demand for air travel. The airline said it has agreed to purchase 250 Airbus jets. It also ordered 220 Boeing planes, according to the White House, which announced the Boeing side of the deal.

☆ Air India Places Airbus Order as Part of Record Purchase
▼ + stars: | 2023-02-14 | by ( Benjamin Katz | ) www.wsj.com time to read: 1 min

Tata Group, which regained control of Air India last year after decades of public ownership, put out just six paragraphs. "Air India negotiated hard and the team is very sharp despite having no prior aviation experience. A second person who watched the billions fall into place said the Air India negotiators were "methodical, tough and very sophisticated". Plans for announcements on the anniversary of Tata's Air India takeover slipped as engine talks wore on. Analysts caution many obstacles remain to Air India's plans.

☆ Britain welcomes Air India deal with Airbus and Rolls-Royce
▼ + stars: | 2023-02-14 | by ( ) www.reuters.com time to read: 1 min

LONDON, Feb 14 (Reuters) - Prime Minister Rishi Sunak welcomed a mega deal by Air India to buy 250 jets from Airbus (AIR.PA), saying it would create jobs and boost exports from Britain, where the French planemaker designs and makes aircraft wings. The deal should create 450 manufacturing jobs and bring more than 100 million pounds ($122 million) of investment to Wales, where Airbus manufactures wings, the British department for business and trade said. The deal also includes 40 wide-body A350 aircraft powered by Rolls-Royce engines, which are assembled and tested in Derby in central England. ($1 = 0.8195 pounds)Reporting by Sachin Ravikumar; Editing by Paul SandleOur Standards: The Thomson Reuters Trust Principles.

☆ Biden to announce $34 billion Boeing and Air India deal
▼ + stars: | 2023-02-14 | by ( Nikki Carvajal | ) edition.cnn.com time to read: +3 min

CNN —Air India will purchase more than 200 planes from Boeing, a White House official says President Joe Biden will announce Tuesday. The agreement will include 190 Boeing 737 MAXs, 20 Boeing 787s, and 10 Boeing 777Xs – a total of 220 firm orders valued at a list price of $34 billion, the official says. The purchase will also include customer options for an additional 50 Boeing 737 MAXs and 20 Boeing 787s, totaling 290 airplanes for a total of $45.9 billion at list price. The company has not announced any sales to a Chinese passenger airline since November 2017, and the country banned the Boeing 737 Max for much longer than most countries. A Boeing 737 Max finally took off in China in January for the first time since 2019.

[1/4] Air India passenger aircraft are seen on the tarmac at Chhatrapati Shivaji International airport in Mumbai, India, February 14, 2023. REUTERS/Francis MascarenhasBENGALURU, Feb 14 (Reuters) - Air India has agreed to buy 250 jets from Airbus (AIR.PA), part of a mammoth deal for 470 planes, as the carrier heralds a decades-long transformation under its new owners, Tata Group. The deal is expected to also include an order for 220 planes from Airbus rival Boeing (BA.N), Reuters reported. "We see this moment as the most significant moment for the Tata Group's Air India, Indian aviation and the manufacturing sector in India," he said. Reuters in December reported that Air India was in negotiations for a deal close to 500 planes.

☆ Airbus says Air India to lease jets on top of record order
▼ + stars: | 2023-02-14 | by ( Tim Hepher | ) www.reuters.com time to read: +2 min

PARIS, Feb 14 (Reuters) - Airbus (AIR.PA) will start delivering narrow-body A320neo-family jets to Air India at the end of this year as part of a 250-plane order, the aircraft manufacturer's chief commercial officer said. The carrier's huge aircraft acquisition will further expand as Air India additionally leases around 25 A320neo-family jets on the open market, he said in an interview. Reuters reported last month Air India was poised to acquire a total of 495 planes. The Airbus part of the direct order includes 34 A350-1000 aircraft and six smaller A350-900s originally destined for Russia's sanctions-hit Aeroflot. Asked whether the deal supported Airbus plans for higher A350 production, Scherer said: "It is poised to grow for sure".

☆ Boeing orders, deliveries slip in January, before massive Air India jetliner sale
▼ + stars: | 2023-02-14 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

A Boeing 737 MAX 10 airliner pauses while taxiing on the flight line before its first flight at Renton Municipal Airport on June 18, 2021 in Renton, Washington. Boeing 's aircraft orders and deliveries slipped in January from a month earlier. Boeing delivered 38 jetliners last month, 35 of them its bestselling 737 Max planes, down from a total of 69 planes in December. The delivery count was still was higher than the 32 planes Boeing handed over to customers in January 2022. Air India ordered at least 220 Boeing planes and 250 Airbus planes, making the combined sale the biggest aircraft order ever as airlines prepare for a further recovery in air travel as Covid pandemic travel concerns wane.

☆ Air India places massive order for Boeing and Airbus aircraft
▼ + stars: | 2023-02-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAir India places massive order for Boeing and Airbus aircraftCNBC's Phil LeBeau joins the 'Halftime Report' to discuss Air India buying backlogs for Boeing and Airbus. The investment committee breaks down what that means for the stocks.

BENGALURU, Feb 13 (Reuters) - India wants to more than triple annual defence exports to $5 billion by 2024/25 from $1.5 billion currently as it looks to ramp up domestic manufacturing, Prime Minister Narendra Modi said on Monday while inaugurating the Aero India show. "Today, India is not just a market for defence companies, it is also a potential defence partner," Modi said in his speech at the show. "I call on India's private sector to invest more and more in the country's defence sector." India, for decades one of the world's biggest importers of defence equipment, now exports to 75 countries, he added. India's airlines are also expanding, with Tata Group's Air India expected to announce a potentially record deal to buy nearly 500 jets from Airbus and Boeing, worth more than $100 billion at list prices.

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