National carrier Air India, which has already firmed up its plans to induct 22 Airbus A320 neos in its fleet, would dry lease another seven such aircraft for a 12-year period.
The government-run airline, which is all set to take delivery of its first more fuel-efficient A320 neo aircraft in January next year, has recently invited bids from interested parties in this regard.
At present, budget carriers IndiGo and GoAir have these latest single-aisle planes from the European aircraft market Airbus in their fleet.
As it works on ways to turn around its fortunes, the airline is looking to ramp up the fleet with more fuel-efficient A320 neo (new engine option) planes.
Various steps such as rationalisation of certain loss making routes, closure of overseas offline offices at certain locations, phasing out of old fleet and consequential reduction in maintenance costs have been initiated to reduce the airline's losses.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)