Kingfisher in talks with Arik Air to lease aircraft

Mumbai: Vijay Mallya-owned Kingfisher Airlines is in discussions with Nigeria's Arik Air for leasing out its aircraft to the African air-carrier.
Kingfisher plans to lease two of its existing Airbus-330 aircraft to the Nigerian air-carrier.
Presently, it has five A 330 aircraft in its fleet. Domestic air-carriers, which are increasingly finding themselves cash-strapped and seeking funds to strengthen their operations, are now adopting the sale and lease-back route of aircraft to garner funds.
Another private domestic airline, Jet Airways, has recently tied-up with Bahrain-headquartered, Gulf Air, to lease out four of its Boeing 777 aircraft for a 42-month period, including a six-month dry lease.
Jet Airways is also leasing out two of its A 330-200 aircraft to Oman Air for six-months, beginning May.
04/03/09 PTI/Economic Times

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Categories: Foreign Mar 2009, Kingfisher Mar 2009