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Airbus says it plans to invest US$1 billion in India over the next 10 years

Airbus says it plans to invest US$1 billion in India over the next 10 years

Airbus on Thursday said it plans to invest some US$1 billion in India, setting up an engineering facility and a pilot training school.
The European airplane maker had committed to investing in India as part of a deal with the government, which is purchasing 43 Airbus aircraft for the state-run Indian Airlines in a deal valued at US$2.25 billion (euro1.7 billion).
However, Airbus plans to double the US$500 million required under that agreement, Kiran Rao, Airbus' executive vice president of marketing told a news conference.
Some US$300 million (euro2.25 million) is to be invested in a pilot training center and another US$250 million (euro187 million) in an engineering center, both in the southern city of Bangalore.
Airbus also released a study predicting a huge growth in the Indian airline industry, saying that the country will need 1,100 airplanes worth US$105 billion (euro79 billion) by 2025.


Updated : 2021-10-17 21:04 GMT+08:00