NEW DELHI -- India's federal government has asked loss-making national carrier Air India to start talks with Boeing Co. and Airbus to restructure its orders for 111 planes, an Air India executive said Wednesday.
"The (Air India) management was told in the last board meeting to look at options of both deferring and canceling future aircraft deliveries," Jitendra Bhargava, executive director for corporate communications at Air India, told Dow Jones Newswires.
"We have been told to get back to the government with the legal implications. There has been no decision by the company taken yet," said Mr. Bhargava.
Air India ordered a combined 111 planes from Boeing and Airbus, valued at an estimated $15 billion at list prices. The carrier has already received 50 planes from the two aircraft manufacturers.
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