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Air India is learnt to be in talks for acquiring 500 aircraft worth a few billions dollars from two major manufacturers Boeing and Airbus, according to reports.

The deal is said to be part of Tata Group's efforts to revive Air India, reports in a section of media said.

As per reports, the orders are learnt to include both narrow-bodied and wide-bodied jets.

The developments though could not be confirmed, they added.

As part of Air India's revival, the Tata group has unveiled "Vihaan.AI", a transformation plan.

The new plan is a comprehensive multi-stage revival roadmap to catapult Air India into a world-class airline and claim at least 30 per cent market share in the domestic market in the next five years.

Vihaan.AI has been developed after extensive feedback from Air India employees and focusses on five key pillars - exceptional customer experience, robust operations, industry-best talent, industry leadership and commercial efficiency and profitability.

As part of its medium to long term strategy, Air India will focus on building for excellence and establishing scale.