MUMBAI, India: Tata Group-owned Air India has said the airline is in talks with Boeing and Airbus about ordering new aircraft, according to CEO Campbell Wilson.
The airline also aims to meet its immediate needs by leasing planes and repairing grounded aircraft, he added.
After purchasing Air India in January, Tata has been struggling to upgrade its aging fleet, turn around the company's financials and improve service levels.
"We are in deep discussion with Boeing, Airbus and engine manufacturers for a historic order of the latest generation aircraft that will power Air India's medium and long-term growth," Wilson said, during a conference in Mumbai this week.
Wilson added that to increase its market share to 30 percent on both domestic and international routes over the next five years, Air India has drafted a plan to expand its fleet and global network.
The airline has a current domestic market share of some 10 percent, and an international market share of around 12 percent.
In September, Air India said it would expand its fleet by more than 25 percent as part of the drive to boost market share and improve service, as well as lease 30 Boeing and Airbus planes.