Air India's massive order of 470 aircraft to Boeing and Airbus could become much larger as the airline has the option to buy 370 additional aircraft from the manufacturers, according to chief commercial and transformation officer Nipun Aggarwal.

The current order of 470 aircraft is the largest ever placed by an airline anywhere in the world at one time, surpassing American Airlines' order in 2011 for a total of 460 aircraft. The previous largest order from an Indian airline was IndiGo's deal with 300 aircraft in 2019.

"The order includes 470 fixed aircraft, 370 options and purchase rights acquired from Airbus and Boeing over the next ten years. The airbus fixed order consists of 210 A-320/321 Neo/XLR and 40 A350-900/1000. The boeing fixed order consists of 190 737-Max, 20 787s and 10 777s. We have also signed up for long-term maintenance of the engines with CFM International (CFM), Rolls-Royce and GE Aerospace," Aggarwal said in a post on LinkedIn.

A fixed order is the number of aircraft that the customer has agreed to purchase. Fixed orders are usually accompanied by options, which allow the airline to purchase additional aircraft at a later date and price. Options, unlike final orders, are not binding on the buyer.

When the dual orders were announced on Feb. 14, Boeing said Air India had the option to purchase 70 additional planes in addition to the 220 on the landline. At the time, there was no mention of whether there was an option in addition to the final contract for 250 Airbus aircraft.

Air India and Air India Express operate a fleet of about 140 aircraft, most of which are narrowbody aircraft. Air India is currently heavily dependent on Airbus aircraft for domestic operations, while its widebody fleet consists of Boeing aircraft. Air India Express only flies with Boeing narrowbody aircraft.

"The first aircraft to arrive will be 25 brand new Boeing B737-800s and 6 Airbus A350-900s in the second half of 2023, with deliveries really increasing in 2025 and beyond." However, our capacity growth will be supported by the previously announced lease-in of additional narrowbody and widebody aircraft, as well as the return to service of the rest of our grounded fleet," Wilson told staff.