Air India plans to lease 12 aircraft

Air India has been forced to re-enter the market to lease up to 12 long-and-medium haul aircraft after it was unsuccessful in its earlier attempt to acquire them. Sources indicated that with global demand for aircraft outpacing supply, the global leasing market was firming up there by making it difficult for airlines seeking to acquire aircraft. Air India, however, plans to attempt to dry lease up to three aircraft and is looking at either taking a Boeing 747-400 or Boeing 777-200 Extended Range aircraft. Besides, the airline plans to wet lease four long range and five medium range aircraft to operate its scheduled flights to the US, the UK and Far East. While a dry lease involves leasing just the aircraft, in a wet lease the airline also takes the cockpit crew.

To meet its long-range requirements, the airline is to wet lease aircraft from among the Boeing 747-400, Boeing 747-300, Boeing 777-300 Extended Range, Boeing 777-200 Extended Range apart examining the feasibility of leasing the Airbus A-340-600, A 340-300, Airbus A-330-200 and the MD-11. Air India plans to acquire two such aircraft for up to 11 months while two aircraft will be taken for periods ranging from 21-to-26 months. Similarly, for medium range aircraft AI is to wet lease five aircraft from among the Airbus A-310-300, Airbus A-330-200, Boeing 767-200 Extended Range, Boeing 767-300 Extended Range and the Boeing 757-200 aircraft. Air India plans to lease these aircraft for two to five years. The airline is looking at leasing as a short-term measure to overcome the immediate shortage of aircraft as some of the existing leased aircraft are going back on expiry of their leases. To overcome such problems Air India has ordered 68 Boeing aircraft the first two of which have already joined the airline fleet.

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