Air India plans to sell and leaseback Dreamliners

Mumbai, Jan. 30:  

Air India has invited bids for the sale and leaseback of all its newly acquired Boeing 787 Dreamliner aircraft from prospective lessors by February first week, even as similar aircraft remained grounded across the world.

In all, 50 Dreamliners have been grounded across the world following a directive from the US Federal Aviation Administration (FAA) after a fire risk reportedly caused by a battery problem. The six Dreamliners in India have been grounded since January 17.

The airline has invited quotations from lessors on or before February 5 on a Request for Proposal (RFP) which said it “would sell the aircraft to the lessor and immediately leaseback them under an operating lease for a period of 12 years, with an option to extend it.”

The Indian carrier has received six Dreamliners and is expected to get one more this month. However, delivery of the seventh aircraft is expected to get deferred due to the prevailing problem. Despite this, it has invited bids for the sale and leaseback of seven of them.

Air India plans to sell all its Dreamliner aircraft to a lessor and lease them back to operate by paying monthly rentals, sources said. This is a common fund raising practice among airlines, sources added.

http://www.thehindubusinessline.com/todays-paper/tp-economy/air-india-plans-to-sell-and-leaseback-dreamliners/article4362272.ece