Air India, Jet to lease 35 Airbus planes for $5 billion | india | Hindustan Times
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Air India, Jet to lease 35 Airbus planes for $5 billion

European aircraft manufacturing major Airbus has said that national carrier Air India and Jet Airways will be leasing 35 planes at a price of $5 billion from leasing companies. HT reports.

india Updated: Dec 07, 2010 21:18 IST
HT Correspondent

European aircraft manufacturing major Airbus has said that national carrier Air India (AI) and Jet Airways will be leasing 35 planes at a price of $5 billion (Rs 22,250 crore) from leasing companies.

State carrier AI has decided to lease 10 A330 planes and 15 A320s, Airbus said in a statement. Jet Airways as approved the lease of 10 A330s.

While the 25 planes to be leased by AI come at a price of $3.1 billion (Rs 13,857 crore), those to be leased by Jet Airways to cost $1.9 billion (Rs 8,493 crore).

While Jet Airways spokesperson could not be contacted despite repeated attempts, AI sources said that as the aviation sector had picked up after last year’s slowdown there was a spurt in demand and the new aircraft were needed to cater to the increased passenger traffic.

Airbus said the “carriers would select an engine supplier and leasing company in the near future”.

Low-cost carrier SpiceJet had recently announced plans to spend around $900 million (Rs 4,300 crore) for the purchase of 30 Nextgen turboprop aircraft from Canada’s Bombardier Inc. The civil aviation ministry recently cleared the proposal.

The budget carrier, which posted a net profit of Rs 10 crore for the quarter ending September, compared to a loss of R101 crore during the corresponding period last year, declared its intent on focusing on Tier II and III cities. Rival IndiGo has also got government’s nod to buy 150 planes.