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In dian government approves aircraft purchase pending final talks
An agreement, estimated to be worth USD8.2bn, for the purchase of 68 aircraft from Boeing Co by state-owned carrier Air India has been approved by the Indian government following years of negotiations.
The government confirmed that final negotiations between the Empowered Group of Ministers (EGOM) and Boeing are due to commence, in an attempt to confirm details and reduce the price.
Air India has not purchased any aircraft since 1996 and is intending to purchase 27 Boeing-787 aircraft, 15 Boeing-777-300ERs and eight Boeing-777-200LRs. It will also buy 18 aircraft for its low-cost airline Air India Express.
The new aircraft, to be delivered from 2006 until 2013 will replace Air India's existing fleet in order to better equip the carrier to compete with private carriers such as Jet Airways and Air Sahara.
There has been a significant expansion in the aviation sector in India following the government's move towards privatisation and the introduction of new private airlines and low-cost tickets to the country.
