White House touted the deal between Air India and Virginia-based Boeing as a result of the ‘Biden Boom’. In a statement the White House said that the deal was evidence of an “American manufacturing boom” which has taken place due to US President Joe Biden’s economic agenda. The deal has been termed by Biden as “historic”.
Airline manufacturer Boeing announced one of the largest orders in the company’s history: a purchase of over 200 aircraft through an agreement between Air India and Boeing valued at $34 billion at list price. “The purchase will support over one million American jobs across 44 states, and many of those jobs won’t require a four year degree,” said White House.
Under the ‘Biden Boom’, the White House also highlighted Ford’s announcement that it will build a $3.5 billion factory in Marshall, Michigan that will employ at least 2,500 workers to make advanced batteries for electric vehicles. He also shed light on the announcement by Texas Instruments that it would build a new $11 billion semiconductor plant in Lehi, Utah. Biden, in his agenda, has been pushing industrial jobs creation for the working class to challenge China’s manufacturing prowess.
The White House said that the investments would lead to jobs for Americans. “These investments, which build on the hundreds of billions of dollars in private investment announced since President Biden took office—will lead to good-paying jobs that American can raise a family on, the revitalization of entire communities that have often been left behind, and America leading the world again in the industries that drive the future,” said the statement.
Air India’s ‘historic’ deal with Boeing & Airbus
US President Joe Biden on Tuesday termed Air India’s $34 billion order for 220 Boeing planes as a “historic” deal. “This announcement also reflects the strength of the US-India economic partnership,” Biden had said in a statement. “Together with Prime Minister Modi, I look forward to deepening our partnership even further as we continue to confront shared global challenges—creating a more secure and prosperous future for all of our citizens,” he added.
Air India’s order with Boeing marks the US plane maker’s third-largest sale of all time, in dollar value, and its second of all time in quantity. Air India is also buying 250 passenger jets from European plane manufacturer Airbus, with the orders championed by Prime Minister Narendra Modi and French President Emmanuel Macron.
“India is going to be the world’s third-largest market in the aviation sector,” PM Modi said in a videoconference on Tuesday. Over the next 15 years, it’s estimated that India will need more than 2,000 aircraft, and “today’s historic announcement will help in meeting this growing demand.”
The Boeing order includes 190 737 Max aircraft, 20 of its 787s, and 10 of its 777Xs. The purchase includes customer options for an additional 50 737 MAXs and 20 of its 787s, which would make it 290 aeroplanes for a total of $45.9 billion at list price.
Toulouse, France-based Airbus will provide Air India 40 wide-body A350 Airbus aircraft and another 210 narrow-body A320neo planes, Tata Sons Chairman Natarajan Chandrasekaran said in the call with PM Modi and Macron.“Today is a historic moment for India, for Air India and for Airbus,” Airbus CEO Guillaume Faury said in the call. The size of the order “demonstrates the appetite for growth in the Indian aviation industry. It’s the fastest growing in the world.”
