Wednesday, May 08, 2019

Vistara plans to acquire 16 of Jet Airways' Boeing aircraft to fly to Europe: Report

The Tata Group's airline Vistara is planning to acquire 16 of Jet Airways' grounded planes that include 10 Boeing 777 aircraft. The update comes a month after Jet shut down its operations indefinitely giving in to financial distress, Business Standard reported.

Jet Airways' wings are clipped, and the Tata Group wants to take this chance to promote its aviation business further. It also plans to add to its fleet three of Jet Airways' single-aisle Boeing 737 planes, along with some Airbus A330 wide-body aircraft. The formal discussions regarding this are expected to begin soon.

Moneycontrol could not independently verify the news.

Vistara has had its eye on international flights to Europe and North America for a while. This boost to its fleet will give these plans a much-needed push. These long haul flights are a complete change in strategy for Vistara, which was earlier planning shorter international routes in the rage of 5-6 hours. It was going to enter mid-range and long-range flights gradually. For the same, it ordered six Boeing 787 Dreamliners to be inducted from January 2020.

Sources said that the carrier was optimistic on the opportunities of direct flights between India and Europe. Jet had flights to Europe before it shut down, so does Air India.

"When the first tranche wide-body order was placed, it was deliberately kept small as there was a scarcity of slots and parking bays. Things have changed dramatically with Jet's fall. With Air India's perennial financial crisis, Vistara can fill the space of long haul carrier," a source said.
08/05/19 Moneycontrol
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