An impressive order of 500 aircraft from both Airbus and Boeing is on the verge of being placed by Tata Group’s fledgling Air India, industry sources said.

At least 100 large jets (Airbus 350s, Boeing 787s and 777s) will be included in the order, with final details being finalized, said the sources, who spoke on condition of anonymity.

The value would exceed $100 billion at list price, including all options, making it one of the largest ever for a single company and eclipsing the 460 Airbus and Boeing jets placed by American Airlines more than 10 years ago.

Even after expected significant cuts, the deal will still be worth tens of billions and hopefully cap a difficult year for the industry, which has seen demand for planes recover but faces growing economic and environmental pressures.

The news comes just days after Tata announced the merger of Air India and Vistara, a joint venture with Singapore Airlines, to create a larger carrier and strengthen its presence domestically and internationally.

Founded by JRD Tatra in 1932, Air India was nationalized in 1953 and experienced financial difficulties after 2010. In January, Tatra took control again and is looking to revive its world-class reputation. The planned order confirms a strategy to revive traffic to and from India, a market currently dominated by foreign companies such as Emirates and India’s largest carrier IndiGo.

Delivered over at least a decade, the 500 planes will replace and expand the fleet in the world’s fastest-growing airline market, helping Prime Minister Narendra Modi’s goal of bringing the nation’s economy to $5 trillion.

But experts believe that Air India’s ambitions to restore a strong global presence will face serious challenges, such as modest domestic infrastructure, pilot shortages and fierce competition from foreign airlines.