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Boeing BA.N and Airbus AIR.PA both declined to comment. Tata Group did not react immediately to a request for comment.

Digital Desk: According to industry sources, Air India is close to placing historic contracts for up to 500 jetliners worth tens of billions of dollars from both Airbus and Boeing as it carves out an ambitious rebirth under the Tata Group conglomerate.

The orders include up to 400 narrow-body jets and 100 or more wide-body jets, including Airbus A350s and Boeing 787s and 777s, they said on condition of anonymity as the massive transaction nears completion.

Boeing BA.N and Airbus AIR.PA both declined to comment. Tata Group did not react immediately to a request for comment.

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