Air India to triple current aircraft fleet in a few years -CEO

Air India plans to triple its current fleet of 113 aircraft in a few years as it inducts new aircraft and refurbishes older planes as part of a bigger overhaul, CEO Campbell Wilson said on Tuesday. Tata group-owned Air India has said that it would increase its fleet by a record 470 aircraft, funding the $70 billion order with internal cash, equity and through sale-and-leasebacks. The airline will purchase 220 of the planes from Boeing (BA.N) and 250 from Airbus. The airline, which was once considered a world-class service in India, saw its image tarnish in the mid-2000s due to financial troubles, an ageing fleet and poor service. Air India is also in talks with other airlines that are a part of the Star Alliance group of carriers to enhance cooperation, Campell said at a press conference. The airline has said it is spending $400m on refurbishing and upgrading its planes, especially on long-haul routes as it looks to compete with bigger rivals such as Emirates.<br/>