Air India will place ‘historic’ orders with Boeing, Airbus and engine manufacturers for latest generation aircraft that will power Air India’s medium and long-term growth, CEO and MD Campbell Wilson said Saturday. Speaking at an event hosted by the JRD Tata Memorial Trust in Mumbai, Wilson said, “At the risk of gross understatement, the investment will be substantial.”

Wilson also said the airline will increase its market share to at least 30% in domestic and international routes.

Air India is tapping into the capabilities of Tata group companies like Tata Technologies to design and manufacture parts to rid itself of supply chain issues that have crippled its domestic competitors like Indigo and Go First. Air India is also in the process of improving the interiors of all of its widebody aircraft, including seats and inflight entertainment systems. Next month will see Air India offering premium economy seat options on the long-haul routes to the US.

Also Read: Air India to introduce premium economy class in certain long haul flights next month: CEO & MD Campbell Wilson

The loss-making carrier, which was taken over by the Tata Group early this year, is undergoing its biggest restructuring exercise that will see it become the lead brand among the entire aviation business of the Tata Group.

Merger with full-service sister carrier Vistara (leading to phasing out of brand Vistara), India’s second-largest airline, and the merger between Air India Express and AirAsia India are the key strategic initiatives in the pipeline for Air India. This will result in the company having two platforms — a full-service brand and a low-cost brand.

“Our short-term actions have been to replace carpets, curtains, seat cushions and covers and fix defective seats and inflight entertainment systems as fast as supply chains will allow. We have recently completely revamped the domestic inflight menu, and will be doing likewise, as well as launching premium economy on certain long-haul international flights next month,” Wilson added.

Air India recently added more flights to Vancouver, Sydney and Melbourne from India. The airline now operates non-stop to London from seven Indian cities. Mumbai will see the addition of a new non-stop service to San Francisco, New York and Newark starting in a few weeks.

Nearly 20 grounded aircraft have been restored by Air India and have finalised leases for 30 additional aircraft being delivered over the next 12 months, starting next week, with more in the final stages of negotiation.

Wilson said India enjoys all the advantages of neighbouring international “superconnector” airlines since an estimated 30% of the world’s population resides within five hours of the country.

“India, with the aligned effort of airports, airlines and the public sector, can become a major international aviation hub, indeed, India can host multiple hubs, and become one of the most-connected countries on earth. In aviation, there is no location on earth more exciting to be than India,” Wilson added.