The Hindu Business Line : Pre-PIB meeting on AI fleet acquisition concludes

THE 50 Boeing aircraft fleet acquisition proposal of Air India crossed another milestone with the pre-Public Investment Board (pre-PIB) meeting concluding on Wednesday.

Sources said that some clarifications have been sought on the proposal, after which, it would be sent for clearance by the Public Investment Board (PIB).

The pre-PIB meeting generally clears a project from different angles before it is forwarded to the Public Investment Board (PIB) for clearance.

The meeting today was attended by senior officials of various Ministries including Finance, Civil Aviation and Planning Commission.

To expedite the acquisition programme, the airline management has started preliminary negotiations with the US aircraft manufacturer.

However, negotiations on the final price for the acquisition has not yet started, sources indicated.

The Government has also set up an oversight committee headed by the former Comptroller and Auditor General of India to take a look at the entire acquisition proposal.

In April this year, the airline board had cleared a proposal to acquire 50 Boeing aircraft including eight Boeing 777-200 Long Range (LR), 15 Boeing 777-300 Extended Range (ER) and 27 Boeing 787 at a total cost estimated to be about Rs 30,000 crore.

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