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Air India Lease Agreement

Unlike a wet lease, where the aircraft arrives with its own ground staff and cabin crew, it is only the dry rented aircraft. It reduces operating costs. Air India is already suffering huge losses – it has accumulated losses of 30,000 aff. « Reducing all costs is only good for the company, » the officials said. Air-India has signed a Memorandum of Understanding with a British aircraft broker to lease two of its classic Boeing 747s. Funds from the agreement will help increase the Airbus A310 fleet. Air India has delivered a total of 14 Boeing 747-200s, making it the most popular variant of its jumbojet fleet. The company also held three 747-300s, including the rental of two of the unique -300M or combined aircraft (which have cargo and passengers on the main deck). AIR INDIA HAS has terminated its water lease agreement with Caribjet, headquartered in Belgium, which, on behalf of Air India Airbus A310-300 and Lockheed TriStar 500s, flies on certain services. As the process of replacing the remaining three aircraft continues, Air India is in talks with Kuwaiti owners to lend the remaining 14 aircraft. While most airlines go for three years to lease, Air Indias 12-year lease should help the company.

The remaining aircraft are at least two years away. Experts stated that Air India had a large capacity for ground and cabin crew and that it could maintain and maintain its own fleet, unlike other airlines. The agreement concerns the short-term lease of two 747-200s at London Gatwick Air Charters. The airline expects the agreement to be reached within two months. Air-India will use the money generated to finance the leasing of two additional A310 twinjets, in addition to the nine in its fleet. These aircraft are used to increase capacity on major routes such as Hong Kong, Manchester, Osaka and Singapore. Officials said the lease was 12 years. Air India`s Board of Directors has authorized the dry rental of 19 aircraft with an average age of 18.5 years. The tendering process for leasing began in October 2013. The airline denounced earlier a fleet of 25 Boeing 737-800 aircraft with 18 in possession and 7 leased. While after the end of the lease period, AIE returned to the leasers all the aircraft leased over a period of time, IEA lost a plane in the Mangalore crash in 2010, reducing the number of aircraft in the fleet to 17. In mid-2014, Air India signed a lease agreement with China Aviation Leasing Group Holdings for five A320 aircraft.

« Air India already has two of these new aircraft, and the other three are on their way. It is very likely that the other three aircraft will be received by mid-2016, » said the official. State-owned airline Air India, which last year signed its first lease to replace its old fleet, received its first two leased aircraft – A320, civil aviation ministry officials said. The process of replacing the old fleet has therefore begun. IEA has also recently launched new tenders for the lease of five other similar aircraft to maintain a fleet of 25 aircraft, said a senior PTI company official in New Delhi. « We lease three Boeing 737-800 aircraft from GECAS from Singapore.

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