Tata Group-owned Air India shared the first look of one of its planes with a new logo on Saturday. “Here’s the first look of the majestic A350 in our new livery at the paint shop in Toulouse. Our A350s start coming home this winter,” Air India posted on X.
The airline after buying debt-ridden Air India resorted to fully reworking the agency.Â
India’s first Airbus A350-900 planeÂ
Earlier within the final month, Air India efficiently acquired India’s first Airbus A350-900 plane by a finance lease transaction with HSBC by the Gujarat International Finance Tec-City (GIFT City). This was additionally the first wide-body plane to be leased by the GIFT City, the nation’s first International Financial Services Centre (IFSC).
According to the assertion issued by the airline, the transaction was facilitated by its wholly-owned subsidiary AI Fleet Services Ltd (AIFS) and can also be the first financing transaction from the orders for 470 plane that have been made earlier this 12 months.
“Air India’s first A350-900 is also the first widebody aircraft to have been leased through India’s first International Financial Services Centre (IFSC). The transaction was facilitated by AI Fleet Services Limited (AIFS), a 100 per cent subsidiary of Air India, and a GIFT IFSC-registered finance company,” the airline mentioned.
“This landmark transaction marks the start of our plane leasing enterprise from GIFT IFSC, as AIFS would be the major Air India Group entity for widebody plane financing, enjoying a pivotal position sooner or later plane financing technique for us and our subsidiaries,” Nipun Aggarwal, Chief Commercial & Transformation Officer, Air India, mentioned within the assertion.
Air India ordered six A350-900 planes
The airline has positioned an order for six A350-900 plane, and supply is deliberate for 5 of them by March 2024. In addition to those, the airline’s confirmed orders for new plane consist of 34 A350-1000s, 20 Boeing 787 Dreamliners, 10 Boeing 777Xs, 140 A320 neos, 70 A321 neos, and 190 Boeing 737MAXs.
In June this 12 months, Air India entered into buy agreements with Airbus and Boeing for the acquisition of these plane. Presently, Air India operates a fleet of 116 plane, which incorporates 49 wide-body planes. The whole contains 27 B787-8s, 14 B777-300s, 8 B777-200LRs, 14 A319s, 36 A320 neos, 13 A321 ceos and 4 A321 neos.
Tata Group is presently within the course of of streamlining its airline enterprise. As half of this consolidation effort, AIX Connect is about to merge with Air India Express, and Vistara will merge with Air India. Vistara is a three way partnership between Tatas and Singapore Airlines, which holds a 49 per cent stake within the service.
(With PTI inputs)
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