Air India expands A320neo leasing pool
Air India has committed to lease six Airbus A320neo aircraft under lease agreements with CDB Aviation.
The aircraft will deliver in the second half of next year.
The Indian carrier has a fleet of 27 A320neo aircraft in its fleet as of 10 November, and all units are under lease agreements with operating lessors Avolon, Aercap, Alafco and Goshawk.
Middle-East based Alafco has 14 aircraft on lease to Air India. All delivered new between 2017 and 2019. Avolon’s 10 units delivered between 2017 and 2018. GECAS (now Aercap) placed three A320neos to Air India from its orderbook in 2017, and sold two units to Goshawk in 2020.
In the third quarter Air India said it had signed leases for 25 A320neo-family. The narrowbodies will begin joining the fleet in the first quarter of 2023 and are expected to be deployed on domestic and regional routes.
The carrier recently accelerated its A320 family fleet phase-out with the signing of a sale and leaseback agreement with Willis Lease Finance for 34 CFM56-5B engines powering 13 A321s and four A320s.
CDB Aviation is among the first aircraft leasing companies to secure the placement of Air India’s additional A320neo aircraft under the recently announced multi-stage transformation plan since the purchase of the airline by the Tata Group, which aims to increase the carrier’s fleet and help it boost both domestic and international operations.
“India is an increasingly important region for CDB Aviation, being the second largest Asia Pacific market for new aircraft deliveries, with nearly 1,000 Boeing and Airbus jets in its orderbook,” commented CDB Aviation’s chief commercial officer Peter Goodman.
Earlier this month Air India announced that it had signed agreements to complete the acquisition of 100% shareholding in Air Asia India and make it a subsidiary.