Air India issues tender to lease Boeing, Airbus planes

New Delhi: Air India Ltd. has issued a tender to lease new and used planes from Boeing Co.
, Airbus and global aircraft leasing companies, a senior company executive said Tuesday.
The carrier may also return to profit in the next fiscal year starting April 1, following savings from a merger with Indian Airlines Ltd. in August, Air India's Executive Director for Finance, S. Venkat, told Dow Jones Newswires.
The new planes will be leased to help the airline meet rising demand on its domestic and international routes and also because of a delay in the delivery of Boeing's 787 Dreamliner aircraft, Venkat said.
"The market is growing at 25%-30% each year," Venkat said. "We don't want to lose out on the opportunity."
Air India has ordered 27 Dreamliners, the first of which was due for delivery in September 2008. The carrier now expects the first plane to arrive in June 2009, Chairman Vasudevan Thulasidas said Jan. 18.
Air India, Jet Airways (India) Ltd. and other Indian carriers are buying new planes or taking them on lease to meet increasing travel demand in the world's second fastest growing major economy.
19/02/08 Santanu Choudhury/MarketWatch

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Categories: Foreign Feb 2008, NACIL Feb 2008