The chairman also said that the company had stopped production of the heavy lift transport aircraft C-17 Globemaster.
The announcement comes at a time when the Indian government was in requirement of three more Globemaster planes. The Boeing C-17 Globemaster is a large military transport aircraft. "We have only one C-17 with us. Of course there are buying opportunities in the used market and the model will stay in the market for another 20 to 30 years," the chairman said. The Indian government and the Boeing company had entered into a purchase agreement for 10 C-17 Globemaster aircraft with an option for buying six more. The deal was estimated at $4.1 billion.
Currently, the Indian Air Force's (IAF) Globemaster fleet is based out of Hindon Air Force Station near the national capital. The fleet is operated by the 'Skylords' squadron for strategic airlift assignments. United States has the largest fleet of Globemaster aircraft (over 220) followed by India which has only 10 C-17s.