{"id":47136,"date":"2023-09-29T11:57:04","date_gmt":"2023-09-29T06:27:04","guid":{"rendered":"https:\/\/aviationa2z.com\/?p=47136"},"modified":"2023-10-07T11:30:35","modified_gmt":"2023-10-07T06:00:35","slug":"air-india-acquires-the-first-airbus-a350-from-its-new-leasing-unit","status":"publish","type":"post","link":"https:\/\/aviationa2z.com\/index.php\/2023\/09\/29\/air-india-acquires-the-first-airbus-a350-from-its-new-leasing-unit\/","title":{"rendered":"Air India Acquires the First Airbus A350 From Its New Leasing Unit"},"content":{"rendered":"\n

GANDHINAGAR-<\/strong> On Friday (September 29, 2023), Air India (AI)<\/a> announced the successful completion of the acquisition of its inaugural Airbus A350<\/a> aircraft, facilitated through a finance lease transaction conducted via HSBC and the GIFT City.<\/a><\/p>\n\n\n\n

This marks the first wide-body aircraft acquired through GIFT City, India’s premier International Financial Services Centre (IFSC).<\/p>\n\n\n\n

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Air India Airbus A350 | Photo: AeroConcepts<\/figcaption><\/figure>\n\n\n\n

Air India A350 Leasing<\/h2>\n\n\n\n

The transaction was orchestrated with the assistance of Air India’s wholly-owned subsidiary, AI Fleet Services Ltd (AIFS), and represents the inaugural financing arrangement stemming from the extensive order for 470 aircraft placed earlier this year. <\/p>\n\n\n\n

As part of its ambitious transformation strategy, Air India, now owned by the Tata Group, anticipates the arrival of its first A350-900 aircraft in India by the conclusion of this year.<\/p>\n\n\n\n

The release further emphasizes that Air India has achieved a significant milestone by securing India’s premier Airbus <\/a>A350-900 aircraft through a finance lease arrangement with HSBC.<\/p>\n\n\n\n

“This significant transaction represents the commencement of our aircraft leasing operations within GIFT IFSC, with AIFS assuming a central role in wide-body aircraft financing for the Air India Group. AIFS will play a pivotal role in shaping our future aircraft financing strategy and that of our subsidiary companies,” stated Nipun Aggarwal, Chief Commercial and Transformation Officer at Air India.<\/p>\n\n\n\n

Dipesh Shah, Executive Director of the International Financial Services Centres Authority (IFSCA), emphasized their collaborative efforts with stakeholders to establish regulatory frameworks conducive to aircraft leasing and financing. <\/p>\n\n\n\n

He further highlighted the importance of Air India’s establishment of a financial entity dedicated to aircraft leasing and financing within IFSC, foreseeing it as a substantial step toward positioning IFSC as a preferred global destination for aircraft leasing and financing activities in India.<\/p>\n\n\n\n

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Photo: Twitter User<\/figcaption><\/figure>\n\n\n\n

Historical Order<\/h2>\n\n\n\n

Air India has placed orders for a total of six A350-900 aircraft, with deliveries expected for five of them by March 2024. Additionally, the airline has firm orders for 470 new aircraft, comprising 34 A350-1000s, 20 Boeing 787 Dreamliners<\/a>, 10 Boeing 777Xs, 140 A320<\/a> neos, 70 A321 neos, and 190 Boeing 737MAXs, as part of agreements signed with Airbus and Boeing <\/a>in June of the current year.<\/p>\n\n\n\n

Currently, Air India operates a fleet of 116 aircraft, including 49 wide-body planes, consisting of 27 B787-8s, 14 B777-300s, 8 B777-200LRs, 14 A319s, 36 A320 neos, 13 A321 ceos, and 4 A321 neos.<\/p>\n\n\n\n

Moreover, the Tata Group is in the process of restructuring its aviation businesses, including the merger of AIX Connect with Air India Express (IX) <\/a>and the integration of Vistara (UK)<\/a> with Air India. <\/p>\n\n\n\n

Vistara is a collaboration between the Tata Group and Singapore Airlines, with the latter holding a 49 percent stake in the carrier.<\/p>\n\n\n\n

Stay tuned with us. Further, follow us on social media for the latest updates.<\/p>\n\n\n\n

Join us on Telegram Group <\/a>for the Latest Aviation Updates. Subsequently, follow us on Google News<\/a>.<\/p>\n\n\n\n

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FIRST LOOK: Air India Showcase the New Livery of Airbus A350 in France<\/a><\/blockquote>