Air India leases 6 Airbus A320 NEOs from CDB Aviation

Six Airbus A320 Neo aircraft have been leased by Air India from CDB Aviation, a fully-owned Irish division of China Development Bank Financial Leasing Co. On the sidelines of Airline Economics Growth Frontiers Asia Pacific 2022, CDB Aviation announced the signing of leasing agreements.

The delivery of the aircraft will take place in the second half of 2023. As part of the newly announced multi-stage transformation strategy since the Tata group acquired Air India, CDB Aviation is one of the first companies in the aircraft leasing industry to obtain the order of the additional A320 Neo aircraft. The organization wants to expand the carrier's fleet and assist it in expanding both home and foreign operations.

“Our commercial team is delighted to have worked closely with Air India to help solve their fleet requirements with these new Airbus narrow-body aircraft from our order book,” said Ryan Barrett, head of Asia Pacific region, CDB Aviation, in a statement.

“These fuel-efficient, new generation aircraft are well-suited to support Air India’s fleet revitalization initiatives, positioning the airline for sustained growth and profitability,” Barret said.

Nipun Aggarwal, chief commercial officer of Air India, said, “This is an important agreement, which will help us to strengthen our fleet with the state-of-the-art aircraft. This will boost our connectivity, especially on the short and medium-haul routes, and is an important step ahead in our transformation journey.”

Source: Tribune India