In deep red, A-I billion-dollar Boeing order in peril

New Delhi: Delayed salaries, reduced flights, possibly a bailout -- Air India is looking at ways to stem the sea of red in its balance sheet.

But it's yet to do something that could save it $12 billion, cancelling or deferring the largest airplane order ever made, for 68 Boeing aircraft.

''Air India has placed the biggest order in the history of aviation. It is still the largest order and they are our partners in business and we will do everything to help the. But they have not yet come up with any specific proposal,” says President, Boeing India, Dinesh Keskar.

Boeing's second largest Indian customer, Jet Airways, has deferred an order for seven aircraft. But Boeing is optimistic about the future of the country's aviation industry, though it has scaled down growth forecasts by $ 9 billion.

''The outlook for India is good because of good growth in GDP. We have said India will need 1,000 airplanes worth $100 billon in next 20 years,” says Keskar.

The industry will recover in 9 months to a year, predicts Boeing.