Air India signs agreement with this Chinese bank, will lease 6 Airbus A320 Neo aircraft
Tata Group’s airline company Air India is going to hire aircraft from China Development Bank Aviation. Air India has tied up with a Chinese bank to hire six A320neo aircraft.
Let us inform that Air India has leased a fleet of six Airbus A320 Neo aircraft from CDB Aviation of Ireland, a wholly owned subsidiary of China Development Bank Financial Leasing Company Limited.
Will get additional aircraft for the first time
On Wednesday, CDB Asia said in a statement that the agreement to lease the aircraft was signed on the sidelines of the ‘Airline Economics Growth Frontiers Asia Pacific-2022’ conference. After the acquisition of the airline by the Tata group, its multi-stage transformation plan was announced. Under this, CDB Aviation is the first company to lease additional A320neo aircraft to Air India.
The plane will meet in the second half
Air India will get these aircraft in the second half of 2023. Nipun Aggarwal, Chief Commercial Officer, Air India said about the agreement, “This is a significant agreement, which will help us strengthen our fleet with state-of-the-art aircraft.” This is an important step in the journey and will increase our connectivity.
What is the market share of AIR India
Currently, Air India has a domestic market share of 10 per cent and an international market share of 12 per cent. The company is targeting a 30 per cent market share in the domestic and international markets in the next five years. Air India’s transformation plan is ready. The roadmap for the next five years is ready and work is going on in this direction.
How many aircraft does Air India have
Air India, which comes under the Tata group, has recently announced its expansion plan. Apart from Air India, Tata Group also has Vistara and AirAsia India. The airline currently has 70 small-sized aircraft. 54 of them are engaged in passenger services, while the remaining 16 aircraft will be gradually put into service by the beginning of next year. The company plans to triple the capacity of its fleet in the next five years. In this episode, Air India is going to induct 5 aircraft of Boeing’s wide size and 25 aircraft of Airbus small size in its fleet in the next 15 months.
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