Air India just bought 470 planes from Boeing and Airbus – how big is this multi-billion-dollar deal?

Air India has just closed a multi-billion-dollar deal to secure 470 new Boeing and Airbus planes in an effort to revamp their airline. (Supplied: Air India)

Air India has made one of the biggest aircraft orders in aviation history, purchasing 470 new planes from Boeing and Airbus. 

The deal – which the company says will cost more than $US70 billion ($104 billion) – includes 400 short-haul planes, 70 long-haul planes, and 370 more planes on option.