Following the acquisition of Tata Group, Air India is planning to expand its fleet, as the carrier tries to come out of a losing spree which happened over the course of several years. 

Citing Air India Chief Executive Campbell Wilson, Bloomberg reported that the air carrier is in discussions with aircraft and engine manufacturers on procuring new aircraft. 

Air India

"I wouldn't put a number on it because negotiations are still ongoing. We also have a view on the proportion of wide and narrowbody and the increase is going to be a significant number of both," said Wilson. 

Bloomberg previously reported that Air India has plans to order as many as 300 narrowbody aircraft to revamp its fleet from Boeing, widely touted to be one of the largest aircraft deals in history. 

"The carrier may order Airbus SE's A320neo family jets or Boeing Co.'s 737 Max models, or a mix of both," wrote Bloomberg in the report, citing sources who wished to stay anonymous. 

The company is apparently planning to induct 25 Airbus SE and five Boeing aircraft from lessors starting December. 

Air India's CEO noted that these expansions will help the carrier to increase its domestic and international market share to 30 percent in the next five years. 

He further noted that Air India has plans to enhance the customer service experience by offering top-class food within the flights, along with accelerating investments in people, systems, and equipment. 

Wilson added that Air India is expected to become a world-class airline by 2027.