Air India signs deal with Willis Lease Finance to replace 34 old engines

Air India has 113 planes in its fleet currently. Its narrow-body fleet comprises 70 aircraft, of which 54 are in service

Tata Group-owned Air India on Thursday signed an agreement with Florida-based Willis Lease Finance to sell 34 old engines and lease back their fresh replacement in order to reduce maintenance costs and avoid unpredictable upkeep visits. 

The 34 old CFM56-5B engines have been powering Air India’s four A320ceo aircraft and 13 A321ceo aircraft. Air India had put the purchase order for these 17 planes with European plane maker Airbus in 2006, and they were delivered to then national carrier between 2008 and 2010.

Air India’s Chief Commercial Officer (CCO) Nipun Aggarwal said the transaction with Willis would enable the airline