India’s cabinet has approved a proposal to purchase $4 billion worth of military aircraft from Chicago-based Boeing Co.According to an official from India’s defense ministry, the country plans to buy ten C-17 aircraft, a large combat plane used to move troops and cargo internationally.
Chicago-based Boeing says frequent delays of a new airplane could put financial pressures on the company in 2011. The new fuel efficient Boeing 787 Dreamliner is behind schedule by about three years now.
Chicago-based Boeing could gain some business because of a recent safety issue with the company's competitor, Airbus.Earlier this week, the engine of an Airbus A380 plane blew out. No passengers was injured.Joe Schwieterman follows the airline industry at DePaul University.