Delhi May 6: Air India has acquired six Boeing 777-300 ER planes that were being operated on lease, marking the purchase of this category of wide-body long-range aircraft after more than seven years, according to sources.
The airline’s move comes against the backdrop of supply chain constraints delaying deliveries as well as refurbishment works of its legacy wide-body planes.
The loss-making airline, acquired by the Tata Group in January 2022, is undergoing an ambitious five-year transformation plan, and is expanding its fleet as well as network amid rising air traffic demand. Its USD 400 million retrofit programme for 67 wide-body and narrow-body planes is also in progress.
The sources told PTI that Air India has bought the six Boeing 777-300 ER aircraft that were being operated on lease. These planes were earlier operated by Etihad Airways.
The purchase of these planes, having an extended range and deployed for long-haul and ultra-long-haul flights, was completed recently through the airline’s wholly-owned subsidiary AI Fleet Services Ltd (AIFS) located in the International Financial Services Centre in GIFT City, Gujarat.
Further, the sources said the lease period of these planes was to end by next year, and then, the lessor would have taken back the aircraft. In order to ensure there is enough capacity, the airline decided to acquire the planes, they added.
Financial details could not be immediately ascertained.
Summary: Air India buys six Boeing 777-300ER aircraft, marking its first purchase of the model in over seven years as part of its fleet modernization plan.