Coconut Creek, Fla: Air India has signed definitive sale and lease back agreements with Willis Lease Finance Corporation (“Willis Lease”) for 34 CFM56-5B engines installed on its Airbus A320 family fleet.
The engines will be covered under Willis Lease’s ConstantThrust program, which will deliver significant reliability and cost savings versus a traditional MRO shop visit program. This is the first ConstantThrust® sale and leaseback agreement for aircraft engines by any Indian carrier.
Under the sale side of the transaction, Willis Lease will purchase from Air India 34 engines powering 13 Airbus A321 aircraft and 4 Airbus A320 aircraft. Through its ConstantThrust program, Willis Lease will provide replacement and standby spare engines, allowing Air India to avoid potentially costly and unpredictable shop visits on engines powering a transitioning aircraft fleet. Willis Lease will also have an in-country team to coordinate and manage the entire program and all logistics and transportation involved.
Headquartered in Florida, USA, Willis Lease is a leading aviation finance company, specializing in the lease, finance and management of aircraft, spare commercial aircraft engines and auxiliary power units. Willis Lease’s ConstantThrust program leverages those capabilities and its spare parts, engine and aircraft technical management services, as well as its aircraft engine maintenance, repair and overhaul (MRO) services, to deliver programmatic support to airlines and lessors worldwide.
21/09/22 Golbe News Wire
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