Air India is seeking nearly USD$1 billion from Boeing to compensate for delays in aircraft deliveries, a source with direct knowledge of the matter said.
Deliveries on the national carrier's 2005 order for 50 long-range Boeing jets worth about USD$6 billion has been delayed by more than three years. Air India, burdened with a USD$4 billion debt, is facing a severe cash crunch and is banking on government support to continue operations. Earlier this week, Indian media quoted Aviation Minister Ajit Singh as saying that Air India would proceed with the purchase of Boeing planes despite its troubles, subject to government approval.
Deliveries on the national carrier's 2005 order for 50 long-range Boeing jets worth about USD$6 billion has been delayed by more than three years. Air India, burdened with a USD$4 billion debt, is facing a severe cash crunch and is banking on government support to continue operations. Earlier this week, Indian media quoted Aviation Minister Ajit Singh as saying that Air India would proceed with the purchase of Boeing planes despite its troubles, subject to government approval.
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